Pallas Capital Advisors LLC Cuts Position in CocaCola Company (The) $KO

Pallas Capital Advisors LLC decreased its holdings in CocaCola Company (The) (NYSE:KO) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 143,117 shares of the company’s stock after selling 265 shares during the quarter. Pallas Capital Advisors LLC’s holdings in CocaCola were worth $10,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. New Republic Capital LLC increased its position in shares of CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC increased its position in shares of CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after buying an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock valued at $1,439,000 after buying an additional 143 shares in the last quarter. MBA Advisors LLC increased its position in shares of CocaCola by 1.2% in the first quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after buying an additional 143 shares in the last quarter. Finally, BXM Wealth LLC increased its position in shares of CocaCola by 4.3% in the first quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock valued at $253,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $66.27 on Wednesday. The stock’s 50-day moving average is $69.12 and its 200-day moving average is $70.30. The company has a market cap of $285.20 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion for 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 company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.