United Asset Strategies Inc. Sells 18,618 Shares of CocaCola Company (The) $KO

Key Points

• United Asset Strategies Inc. has reduced its stake in CocaCola by 45.6%, selling 18,618 shares to hold 22,248 shares worth approximately $1.59 million as of the latest SEC filing.
• Several institutional investors, including Mizuho Securities and Ridgewood Investments, have increased their holdings in CocaCola, with overall institutional ownership at 70.26% of the stock.
• CocaCola recently reported an EPS of $0.87 for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 2.9%.

United Asset Strategies Inc. lessened its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 45.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,248 shares of the company's stock after selling 18,618 shares during the period. United Asset Strategies Inc.'s holdings in CocaCola were worth $1,593,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the first quarter worth $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the first quarter worth $30,000. Mizuho Securities Co. Ltd. raised its position in shares of 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 acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC raised its position in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated 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 owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

CocaCola Trading Down 2.0%

NYSE KO traded down $1.3740 on Monday, reaching $68.7560. The company had a trading volume of 8,236,567 shares, compared to its average volume of 16,737,928. The stock's 50 day moving average is $69.85 and its 200-day moving average is $70.45. The stock has a market cap of $295.90 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.65 and a beta of 0.44. 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 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Dividend Announcement

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