Simplicity Wealth LLC Grows Position in CocaCola Company (The) $KO

Key Points

• Simplicity Wealth LLC increased its holdings in Coca-Cola by 123.5% during the 2nd quarter, now owning over 103,000 shares valued at approximately $7.3 million.
• Institutional investors own 70.26% of Coca-Cola's stock, with several firms increasing their stakes, indicating strong institutional interest.
• Coca-Cola recently reported earnings that beat analysts’ estimates, with a 2.5% year-over-year revenue growth and a quarterly dividend of $0.51 per share, reflecting a 3.1% yield.

Simplicity Wealth LLC raised its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 123.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,113 shares of the company's stock after purchasing an additional 56,983 shares during the quarter. Simplicity Wealth LLC's holdings in CocaCola were worth $7,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Chemung Canal Trust Co. lifted its holdings in CocaCola by 12.0% during the second quarter. Chemung Canal Trust Co. now owns 119,023 shares of the company's stock valued at $8,421,000 after purchasing an additional 12,719 shares during the last quarter. OLD National Bancorp IN lifted its holdings in CocaCola by 3.9% during the second quarter. OLD National Bancorp IN now owns 76,437 shares of the company's stock valued at $5,408,000 after purchasing an additional 2,874 shares during the last quarter. Highland Capital Management LLC lifted its holdings in CocaCola by 2.5% during the second quarter. Highland Capital Management LLC now owns 84,866 shares of the company's stock valued at $6,004,000 after purchasing an additional 2,048 shares during the last quarter. Carolina Wealth Advisors LLC lifted its holdings in CocaCola by 267.8% during the second quarter. Carolina Wealth Advisors LLC now owns 1,659 shares of the company's stock valued at $117,000 after purchasing an additional 1,208 shares during the last quarter. Finally, MBL Wealth LLC lifted its holdings in CocaCola by 75.0% during the second quarter. MBL Wealth LLC now owns 8,968 shares of the company's stock valued at $634,000 after purchasing an additional 3,842 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company decreased their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $76.93.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company's stock.

CocaCola Stock Up 0.8%

KO stock opened at $66.65 on Friday. The stock has a market cap of $286.86 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. CocaCola Company has a 1-year low of $60.62 and a 1-year 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. The company's 50 day moving average is $68.27 and its 200 day moving average is $69.94.

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

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola's dividend 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.

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