Wealth Enhancement Advisory Services LLC Has $87.21 Million Position in CocaCola Company (The) $KO

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in CocaCola by 6.1%, owning 1,222,320 shares valued at approximately $87.2 million as per their latest SEC filing.
• The quarterly dividend of $0.51 will be paid on October 1st, yielding about 3.1%, with a dividend payout ratio of 72.34%.
• CocaCola reported earnings of $0.87 per share for the last quarter, surpassing analyst expectations of $0.83, with revenue of $12.50 billion.

Wealth Enhancement Advisory Services LLC grew its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,222,320 shares of the company's stock after buying an additional 70,471 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in CocaCola were worth $87,213,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter worth approximately $25,000. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter worth $26,000. Garde Capital Inc. purchased a new position in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. grew its stake in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC boosted 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 buying an additional 285 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Performance

Shares of NYSE KO traded down $0.03 during midday trading on Monday, hitting $66.41. The company's stock had a trading volume of 3,864,235 shares, compared to its average volume of 16,944,963. The stock has a fifty day moving average price of $68.93 and a 200 day moving average price of $70.21. The firm has a market capitalization of $285.79 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 3.46 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. 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 announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The business'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. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Two investment 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.com, the stock currently has an average rating of "Buy" and an average price target of $76.93.

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.