Coastwise Capital Group LLC Sells 2,312 Shares of CocaCola Company (The) $KO

Coastwise Capital Group LLC decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 12.2% in the 2nd quarter, Holdings Channel reports. The firm owned 16,604 shares of the company’s stock after selling 2,312 shares during the quarter. Coastwise Capital Group LLC’s holdings in CocaCola were worth $1,175,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Grant Private Wealth Management Inc raised its holdings in CocaCola by 1,310.5% during the 2nd quarter. Grant Private Wealth Management Inc now owns 95,432 shares of the company’s stock worth $6,752,000 after purchasing an additional 88,666 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of CocaCola by 26.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 69,481 shares of the company’s stock valued at $4,916,000 after acquiring an additional 14,514 shares in the last quarter. Silver Oak Securities Incorporated increased its stake in shares of CocaCola by 14.2% in the 2nd quarter. Silver Oak Securities Incorporated now owns 12,368 shares of the company’s stock valued at $875,000 after acquiring an additional 1,542 shares in the last quarter. UMB Bank n.a. increased its stake in shares of CocaCola by 145.4% in the 2nd quarter. UMB Bank n.a. now owns 259,703 shares of the company’s stock valued at $18,374,000 after acquiring an additional 153,880 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its stake in shares of CocaCola by 4.3% in the 2nd quarter. Weatherly Asset Management L. P. now owns 109,641 shares of the company’s stock valued at $7,804,000 after acquiring an additional 4,503 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated 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 sale, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

CocaCola Price Performance

Shares of NYSE:KO opened at $66.52 on Friday. The company’s 50-day moving average is $68.93 and its 200 day moving average is $70.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market capitalization of $286.28 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

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

CocaCola Dividend Announcement

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