Secure Asset Management LLC Sells 9,988 Shares of CocaCola Company (The) $KO

Key Points

• Secure Asset Management LLC reduced its stake in CocaCola by 25.6%, selling 9,988 shares in the second quarter and holding a total of 29,058 shares valued at approximately $2.06 million post-sale.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, bringing his ownership down by 15.15%.
• Analysts report a mixed outlook with target prices for CocaCola ranging from $76.00 to $84.00, while the stock currently has a "Buy" rating with a market cap of $288.22 billion.

Secure Asset Management LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 25.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,058 shares of the company's stock after selling 9,988 shares during the period. Secure Asset Management LLC's holdings in CocaCola were worth $2,056,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KO. Nuveen LLC bought a new position in CocaCola during the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP boosted its stake in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new position in shares of CocaCola during the 1st quarter worth about $642,183,000. GAMMA Investing LLC boosted its stake in shares of CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after buying an additional 5,891,034 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after buying an additional 3,810,752 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

Analyst Ratings Changes

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

CocaCola Stock Up 1.1%

CocaCola stock opened at $66.97 on Thursday. The stock has a market cap of $288.22 billion, a P/E ratio of 23.75, a P/E/G ratio of 3.45 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company's 50-day moving average price is $69.07 and its two-hundred day moving average price is $70.28.

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, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is currently 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.

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