Summit Financial LLC Buys 16,299 Shares of CocaCola Company (The) $KO

Key Points

• Summit Financial LLC increased its stake in Coca-Cola Company by 16.7% during the first quarter, now holding 114,056 shares valued at approximately $8.17 million.
• CEO James Quincey sold over 266,000 shares worth approximately $19.2 million, representing a 49.12% decrease in his ownership.
• Recent analysts have set price targets for Coca-Cola stock, with estimates ranging between $76.00 and $83.00, reflecting a consensus rating of "Buy".

Summit Financial LLC grew its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 16.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,056 shares of the company's stock after acquiring an additional 16,299 shares during the period. Summit Financial LLC's holdings in CocaCola were worth $8,169,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the first quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in CocaCola during the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares during the last quarter. Finally, Moser Wealth Advisors LLC increased its position in CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of NYSE:KO traded down $0.5760 during trading on Friday, reaching $70.0840. 12,992,186 shares of the stock were exchanged, compared to its average volume of 12,724,011. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market cap of $301.62 billion, a PE ratio of 24.85, a PEG ratio of 3.65 and a beta of 0.44. The stock has a 50-day moving average price of $69.85 and a 200-day moving average price of $70.40. 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 issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is 72.34%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group lowered their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Two research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $77.21.

Insider Activity at CocaCola

In related 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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

CocaCola 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.