Kagan Cocozza Asset Management Sells 784 Shares of CocaCola Company (The) $KO

Kagan Cocozza Asset Management cut its holdings in CocaCola Company (The) (NYSE:KO) by 6.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,128 shares of the company’s stock after selling 784 shares during the period. Kagan Cocozza Asset Management’s holdings in CocaCola were worth $787,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at approximately $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CocaCola by 6.2% during the 1st 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 buying an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC lifted its position in 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 buying an additional 3,920 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in 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 buying an additional 3,837 shares during the period. Finally, Advisors Capital Management LLC increased its position in CocaCola by 37.7% during the first quarter. Advisors Capital Management LLC now owns 471,034 shares of the company’s stock valued at $33,735,000 after acquiring an additional 128,852 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

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 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 represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

CocaCola Price Performance

NYSE KO opened at $66.71 on Wednesday. The company has a market cap of $287.08 billion, a PE ratio of 23.66, a P/E/G ratio of 3.45 and a beta of 0.43. The firm’s 50 day moving average price is $68.81 and its 200-day moving average price is $70.15. 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 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for 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%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal 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 paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Wall Street Analyst Weigh In

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

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.