Argyle Capital Management LLC cut its stake in CocaCola Company (The) (NYSE:KO – Free Report) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,270 shares of the company’s stock after selling 1,445 shares during the period. CocaCola comprises approximately 1.3% of Argyle Capital Management LLC’s holdings, making the stock its 21st largest holding. Argyle Capital Management LLC’s holdings in CocaCola were worth $3,698,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC increased its holdings in CocaCola by 19.0% during the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after purchasing an additional 13,261 shares in the last quarter. USA Financial Formulas acquired a new stake in CocaCola during the 1st quarter valued at $262,000. Finally, Capital Advisors Ltd. LLC increased its holdings in CocaCola by 11.7% during the 1st quarter. Capital Advisors Ltd. LLC now owns 4,214 shares of the company’s stock valued at $302,000 after purchasing an additional 443 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Research Report on KO
CocaCola Stock Up 0.3%
NYSE:KO opened at $66.30 on Friday. The stock’s fifty day simple moving average is $68.09 and its 200-day simple moving average is $69.86. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $285.33 billion, a P/E ratio of 23.51, a P/E/G ratio of 3.44 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.
CocaCola (NYSE:KO – Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.
CocaCola Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola’s 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.
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