Sunpointe LLC Boosts Stake in CocaCola Company (The) $KO

Key Points

• Sunpointe LLC increased its stake in CocaCola by 118.7% in the 2nd quarter, owning a total of 13,837 shares valued at approximately $986,000.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.1% and a payout ratio of 72.34%.
• The company reported $0.87 earnings per share in its latest quarterly report, exceeding expectations, while its revenue for the quarter was $12.50 billion.

Sunpointe LLC raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 118.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,837 shares of the company's stock after buying an additional 7,511 shares during the period. Sunpointe LLC's holdings in CocaCola were worth $986,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC bought a new position in shares of CocaCola during the 1st quarter valued at approximately $26,000. Garde Capital Inc. bought a new position in shares of CocaCola during the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC grew its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Up 0.1%

Shares of NYSE:KO opened at $66.27 on Wednesday. The firm has a fifty day moving average price of $69.12 and a two-hundred day moving average price of $70.30. 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 one year low of $60.62 and a one year high of $74.38. The company has a market cap of $285.20 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.45 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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 quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. 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 business 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's dividend payout ratio (DPR) is 72.34%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's 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 sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

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.

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