Northstar Group Inc. Lowers Stock Position in CocaCola Company (The) $KO

Northstar Group Inc. cut its position in shares of CocaCola Company (The) (NYSE:KO) by 2.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,817 shares of the company’s stock after selling 678 shares during the quarter. Northstar Group Inc.’s holdings in CocaCola were worth $2,393,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. acquired a new position in CocaCola during the first quarter worth $216,000. Perigon Wealth Management LLC raised 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 worth $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC raised its position in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after acquiring an additional 3,920 shares during the period. Finally, Banque Pictet & Cie SA raised its position in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after acquiring an additional 85,950 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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 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 can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on KO. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Wells Fargo & Company reduced their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, 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 research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.93.

CocaCola Trading Up 0.6%

Shares of KO opened at $66.75 on Thursday. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a 50-day moving average price of $68.38 and a 200 day moving average price of $69.99. The firm has a market capitalization of $287.25 billion, a P/E ratio of 23.67, a P/E/G ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. CocaCola’s quarterly revenue was up 2.5% on a year-over-year basis. 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 year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was 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.