Baker Tilly Wealth Management LLC Trims Stake in CocaCola Company (The) $KO

Baker Tilly Wealth Management LLC cut its holdings in CocaCola Company (The) (NYSE:KO) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,231 shares of the company’s stock after selling 1,072 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in CocaCola were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Nuveen LLC purchased a new stake in shares of CocaCola in the first quarter valued at approximately $1,508,657,000. Wellington Management Group LLP increased its position in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new stake in shares of CocaCola in the first quarter valued at approximately $642,183,000. GAMMA Investing LLC increased its position in shares of CocaCola by 8,419.4% in the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock valued at $426,927,000 after buying an additional 5,891,034 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after buying an additional 3,810,752 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value 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 represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on KO shares. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $76.93.

CocaCola Stock Performance

NYSE KO opened at $66.97 on Thursday. The stock’s fifty day moving average is $69.07 and its two-hundred day moving average is $70.28. The firm has a market capitalization of $288.22 billion, a P/E ratio of 23.75, 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 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) last released its quarterly earnings data 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. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is 72.34%.

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.