Spinnaker Investment Group LLC Sells 1,353 Shares of CocaCola Company (The) $KO

Spinnaker Investment Group LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,286 shares of the company’s stock after selling 1,353 shares during the quarter. Spinnaker Investment Group LLC’s holdings in CocaCola were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KO. Sage Financial Management Group Inc. bought a new position in CocaCola during the first quarter valued at approximately $216,000. Perigon Wealth Management LLC lifted its position in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CocaCola by 6.2% during 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 purchasing an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after acquiring an additional 3,920 shares during the period. Finally, IFM Investors Pty Ltd raised 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 valued at $54,635,000 after buying an additional 3,837 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on 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 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 link. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. 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. Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Morgan Stanley restated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and an average target price of $76.93.

CocaCola Stock Down 0.7%

Shares of NYSE KO opened at $66.00 on Friday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock’s fifty day simple moving average is $68.67 and its two-hundred day simple moving average is $70.09. The stock has a market capitalization of $284.06 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (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 firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue 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, analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola’s dividend payout ratio is currently 72.34%.

CocaCola 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.