Vident Advisory LLC Sells 381,670 Shares of CocaCola Company (The) $KO

Key Points

• Vident Advisory LLC sold 381,670 shares of CocaCola, reducing its stake by 71.8%, leaving it with 149,562 shares valued at approximately $10.7 million.
• The company announced a quarterly dividend of $0.51 per share, representing a yield of 3.0%, to be paid on October 1st to shareholders of record by September 15th.
• CocaCola's stock has a market capitalization of $297 billion and is currently rated as a "Buy" by analysts, with an average target price of $77.21.

Vident Advisory LLC reduced its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 71.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,562 shares of the company's stock after selling 381,670 shares during the period. Vident Advisory LLC's holdings in CocaCola were worth $10,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KO. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of CocaCola by 59.6% in the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock valued at $310,000 after purchasing an additional 1,873 shares in the last quarter. Finally, South Plains Financial Inc. acquired a new stake in shares of CocaCola in the 4th quarter valued at approximately $173,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on KO shares. UBS Group dropped their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $77.21.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

NYSE:KO opened at $69.01 on Friday. The company has a market capitalization of $297.00 billion, a PE ratio of 24.47, a P/E/G ratio of 3.56 and a beta of 0.44. The company has a 50 day simple moving average of $69.78 and a two-hundred day simple moving average of $70.49. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results 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 business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is currently 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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