Sightline Wealth Advisors LLC Invests $205,000 in CocaCola Company (The) $KO

Sightline Wealth Advisors LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,898 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the first quarter worth $25,000. 1248 Management LLC purchased a new position in CocaCola in the 1st quarter valued at about $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC grew its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’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 completion of the sale, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

CocaCola Stock Down 0.5%

KO stock opened at $66.40 on Thursday. The stock has a market cap of $285.74 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. The firm’s 50-day simple moving average is $68.76 and its 200 day simple moving average is $70.13. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 (NYSE:KO) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. 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 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. 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 payout ratio is 72.34%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KO shares. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group reduced their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a report 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 stock. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus 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.