Armstrong Advisory Group Inc. Purchases 3,576 Shares of CocaCola Company (The) $KO

Armstrong Advisory Group Inc. raised its position in CocaCola Company (The) (NYSE:KO) by 11.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,768 shares of the company’s stock after acquiring an additional 3,576 shares during the period. Armstrong Advisory Group Inc.’s holdings in CocaCola were worth $2,460,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KO. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the first quarter worth $25,000. 1248 Management LLC acquired a new position in CocaCola during the first quarter worth $26,000. Garde Capital Inc. acquired a new position in CocaCola during the first quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

NYSE:KO opened at $66.52 on Monday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm has a market cap of $286.28 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 3.46 and a beta of 0.43. The firm’s 50-day simple moving average is $68.93 and its 200 day simple moving average is $70.21. 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 (NYSE:KO) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the firm earned $0.84 earnings per share. CocaCola’s revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued 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 dividend payout ratio (DPR) is currently 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. BNP Paribas restated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and issued 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. Finally, JPMorgan Chase & Co. increased 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $76.93.

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.