Congress Park Capital LLC Lowers Stake in CocaCola Company (The) $KO

Congress Park Capital LLC cut its position in CocaCola Company (The) (NYSE:KO) by 61.2% in the second quarter, HoldingsChannel.com reports. The firm owned 3,700 shares of the company’s stock after selling 5,846 shares during the quarter. Congress Park Capital LLC’s holdings in CocaCola were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sage Financial Management Group Inc. bought a new stake in CocaCola during the first quarter valued at about $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after acquiring an additional 3,920 shares during the period. IFM Investors Pty Ltd grew its position in shares of CocaCola by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company’s stock worth $54,635,000 after purchasing an additional 3,837 shares in the last quarter. Finally, Advisors Capital Management LLC raised its stake in CocaCola by 37.7% during the 1st quarter. Advisors Capital Management LLC now owns 471,034 shares of the company’s stock valued at $33,735,000 after purchasing an additional 128,852 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s 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 directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on KO. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. UBS Group cut their target price 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. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two 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, the stock currently has an average rating of “Buy” and an average target price of $76.93.

CocaCola Price Performance

KO opened at $66.52 on Friday. The business has a fifty day moving average of $68.93 and a 200 day moving average of $70.22. The stock has a market cap of $286.28 billion, a P/E ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last released its 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 business 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 business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 dividend 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.