Canopy Partners LLC Reduces Position in CocaCola Company (The) $KO

Canopy Partners LLC cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,881 shares of the company’s stock after selling 204 shares during the quarter. Canopy Partners LLC’s holdings in CocaCola were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in KO. New Republic Capital LLC grew its stake in CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after purchasing an additional 139 shares during the last quarter. Alteri Wealth LLC boosted its position in CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after buying an additional 140 shares during the last quarter. Requisite Capital Management LLC boosted its position in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after buying an additional 142 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock valued at $1,439,000 after buying an additional 143 shares during the last quarter. Finally, MBA Advisors LLC boosted its holdings in shares of CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after acquiring an additional 143 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Saturday, September 27th. Finally, BNP Paribas restated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.93.

CocaCola Trading Up 1.0%

Shares of NYSE:KO opened at $66.79 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm has a market capitalization of $287.43 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 3.44 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The business’s 50 day moving average price is $68.18 and its 200-day moving average price is $69.91.

CocaCola (NYSE:KO) last posted its quarterly earnings data 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 the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company 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 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 presently 72.34%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

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.