CocaCola Company (The) $KO Shares Sold by Rockland Trust Co.

Key Points

• Rockland Trust Co. reduced its stake in CocaCola by 6.2%, owning 159,314 shares valued at approximately $11.3 million after selling 10,524 shares in the second quarter.
• Insider Nikolaos Koumettis sold 37,396 shares for over $2.58 million, a 15.15% decrease in his ownership.
• Equities analysts have set a consensus target price of $76.93 for CocaCola shares, with the stock having a current annual dividend yield of 3.1%.

Rockland Trust Co. lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,314 shares of the company's stock after selling 10,524 shares during the quarter. Rockland Trust Co.'s holdings in CocaCola were worth $11,271,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of CocaCola during the 1st quarter valued at $1,508,657,000. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new position in CocaCola in the first quarter worth about $642,183,000. GAMMA Investing LLC lifted its stake in CocaCola by 8,419.4% in the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after purchasing an additional 5,891,034 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group cut their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, BNP Paribas reissued an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of CocaCola stock traded down $0.16 during trading hours on Monday, reaching $66.27. The stock had a trading volume of 13,283,842 shares, compared to its average volume of 17,977,178. The stock's 50 day moving average is $68.87 and its 200 day moving average is $70.18. The firm has a market capitalization of $285.20 billion, a PE ratio of 23.50, a PEG ratio of 3.46 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 net margin of 25.89% and a return on equity of 44.91%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is 72.34%.

About CocaCola

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.