Wedmont Private Capital Increases Holdings in CocaCola Company (The) $KO

Key Points

• Wedmont Private Capital increased its holdings in Coca-Cola by 18.9% during the second quarter, now owning 63,475 shares worth approximately $4.41 million.
• Coca-Cola recently reported $0.87 EPS for the quarter, exceeding the consensus estimate of $0.83, alongside a revenue of $12.50 billion.
• The company has announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.0% and a payout ratio of 72.34%.

Wedmont Private Capital raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,475 shares of the company's stock after acquiring an additional 10,068 shares during the quarter. Wedmont Private Capital's holdings in CocaCola were worth $4,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB lifted its stake in CocaCola by 1.5% during the second quarter. Swedbank AB now owns 2,029,852 shares of the company's stock worth $143,612,000 after purchasing an additional 30,724 shares during the last quarter. Compton Wealth Advisory Group LLC lifted its stake in CocaCola by 3.4% in the second quarter. Compton Wealth Advisory Group LLC now owns 7,649 shares of the company's stock valued at $541,000 after buying an additional 254 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of CocaCola by 19.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 19,239 shares of the company's stock valued at $1,324,000 after purchasing an additional 3,112 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CocaCola by 5.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 783,488 shares of the company's stock valued at $55,432,000 after purchasing an additional 40,030 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in shares of CocaCola by 15.1% in the second quarter. Signal Advisors Wealth LLC now owns 6,352 shares of the company's stock valued at $449,000 after purchasing an additional 834 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on KO shares. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. upped their price objective on 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 price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $76.93.

CocaCola Trading Up 0.1%

Shares of NYSE:KO traded up $0.06 during midday trading on Friday, hitting $66.52. The company had a trading volume of 31,087,715 shares, compared to its average volume of 17,067,516. The firm 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. The stock has a market cap of $286.28 billion, a price-to-earnings 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.

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

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% 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.