RBO & Co. LLC Has $16.22 Million Stock Position in CocaCola Company (The) $KO

Key Points

• RBO & Co. LLC reduced its stake in CocaCola by 5.1% during the 1st quarter, now holding 226,511 shares valued at approximately $16.2 million.
• CocaCola recently announced a quarterly dividend of $0.51, which will be paid on October 1st, yielding 2.9% annually.
• Wall Street analysts have a consensus rating of "Buy" for CocaCola, with target prices ranging from $76.00 to $84.00, indicating positive sentiment in the market.

RBO & Co. LLC lessened its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,511 shares of the company's stock after selling 12,162 shares during the quarter. CocaCola makes up approximately 2.6% of RBO & Co. LLC's holdings, making the stock its 15th largest holding. RBO & Co. LLC's holdings in CocaCola were worth $16,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bahl & Gaynor Inc. increased its position in CocaCola by 2.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,609,189 shares of the company's stock worth $115,250,000 after purchasing an additional 32,171 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in CocaCola by 4.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 806,548 shares of the company's stock valued at $57,765,000 after buying an additional 32,135 shares during the period. Trinity Legacy Partners LLC grew its holdings in CocaCola by 51.2% in the 1st quarter. Trinity Legacy Partners LLC now owns 71,079 shares of the company's stock valued at $4,902,000 after buying an additional 24,076 shares during the period. AlphaQuest LLC grew its holdings in CocaCola by 123.6% in the 1st quarter. AlphaQuest LLC now owns 10,387 shares of the company's stock valued at $744,000 after buying an additional 5,741 shares during the period. Finally, Strategies Wealth Advisors LLC purchased a new stake in CocaCola in the 1st quarter valued at about $986,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on KO shares. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group lowered their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $77.21.

CocaCola Stock Performance

KO traded up $0.09 during trading hours on Wednesday, hitting $68.82. 11,444,217 shares of the stock were exchanged, compared to its average volume of 16,748,551. The stock has a 50-day simple moving average of $69.80 and a 200-day simple moving average of $70.47. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a market cap of $296.16 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

CocaCola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.