Sky Investment Group LLC Cuts Holdings in CocaCola Company (The) $KO

Sky Investment Group LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,217 shares of the company’s stock after selling 926 shares during the quarter. CocaCola comprises 1.7% of Sky Investment Group LLC’s portfolio, making the stock its 13th biggest holding. Sky Investment Group LLC’s holdings in CocaCola were worth $9,779,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the first quarter valued at $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the 1st quarter worth $26,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC grew its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other CocaCola 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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 report on Wednesday, July 23rd. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. BNP Paribas reiterated 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 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $76.93.

CocaCola Price Performance

KO opened at $66.43 on Friday. The business has a fifty day moving average of $69.00 and a 200 day moving average of $70.24. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $285.89 billion, a P/E ratio of 23.56, a PEG ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.CocaCola’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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 given 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 72.34%.

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.