CocaCola Company (The) $KO Shares Sold by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in Coca-Cola by 3.6% during Q1, holding a total of 416,002 shares valued at approximately $29.79 million.
• Several other institutional investors increased or initiated positions in Coca-Cola, contributing to a high level of institutional ownership at 70.26%.
• Coca-Cola reported earnings per share of $0.87 for the last quarter, exceeding analyst expectations, with quarterly revenue reaching $12.50 billion, marking a 2.5% increase from the previous year.

Steward Partners Investment Advisory LLC lessened its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,002 shares of the company's stock after selling 15,563 shares during the period. Steward Partners Investment Advisory LLC's holdings in CocaCola were worth $29,794,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Intrepid Financial Planning Group LLC purchased a new position in shares of CocaCola during the first quarter valued at approximately $226,000. Raymond James Financial Inc. boosted its position in shares of CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock valued at $848,315,000 after buying an additional 3,810,752 shares during the period. Menora Mivtachim Holdings LTD. purchased a new position in shares of CocaCola during the first quarter valued at approximately $134,126,000. Weik Capital Management boosted its position in shares of CocaCola by 2.3% during the first quarter. Weik Capital Management now owns 62,170 shares of the company's stock valued at $4,453,000 after buying an additional 1,425 shares during the period. Finally, Gen Wealth Partners Inc boosted its holdings in shares of CocaCola by 3.7% in the first quarter. Gen Wealth Partners Inc now owns 29,389 shares of the company's stock valued at $2,105,000 after purchasing an additional 1,053 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. boosted 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. 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. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $77.21.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's 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 directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

NYSE:KO traded down $0.0970 during mid-day trading on Thursday, hitting $70.6030. The company's stock had a trading volume of 8,743,065 shares, compared to its average volume of 16,808,926. The business's fifty day moving average is $69.90 and its two-hundred day moving average is $70.24. 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 Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market cap of $303.85 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.65 and a beta of 0.44.

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

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend 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.