Weatherly Asset Management L. P. Acquires 4,503 Shares of CocaCola Company (The) $KO

Key Points

• Weatherly Asset Management L. P. increased its stake in CocaCola by 4.3% during the 2nd quarter, holding a total of 109,641 shares valued at approximately $7.80 million.
• CocaCola reported an earnings per share (EPS) of $0.87 for the last quarter, surpassing analysts' expectations of $0.83, with quarterly revenue reaching $12.50 billion.
• The company declared a quarterly dividend of $0.51 per share, set to be paid on October 1st, representing an annualized yield of 3.1%.

Weatherly Asset Management L. P. increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,641 shares of the company's stock after acquiring an additional 4,503 shares during the quarter. Weatherly Asset Management L. P.'s holdings in CocaCola were worth $7,804,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after buying an additional 2,072 shares during the last quarter. Two Sigma Investments LP grew its position in CocaCola by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 48,000 shares of the company's stock worth $2,988,000 after buying an additional 621 shares in the last quarter. Finally, Novem Group acquired a new position in CocaCola in the fourth quarter valued at approximately $533,000. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Up 0.1%

NYSE KO traded up $0.06 during trading on Friday, hitting $66.52. 31,087,715 shares of the company traded hands, compared to its average volume of 17,977,178. The company has a market capitalization of $286.28 billion, a P/E ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The business has a fifty day simple moving average of $68.93 and a 200 day simple moving average of $70.22. 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 posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share 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 for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company'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. As a group, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated 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 transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

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.