Park National Corp OH Purchases 34,499 Shares of CocaCola Company (The) $KO

Park National Corp OH raised its stake in shares of CocaCola Company (The) (NYSE:KO) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,868 shares of the company’s stock after acquiring an additional 34,499 shares during the quarter. Park National Corp OH’s holdings in CocaCola were worth $32,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Nuveen LLC acquired a new stake in shares of CocaCola in the 1st quarter worth $1,508,657,000. Wellington Management Group LLP increased its stake in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new stake in CocaCola during the 1st quarter worth approximately $642,183,000. GAMMA Investing LLC increased its stake in CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after buying an additional 5,891,034 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

KO opened at $67.00 on Friday. The company has a 50-day moving average of $69.29 and a 200-day moving average of $70.37. The company has a market capitalization of $288.35 billion, a P/E ratio of 23.76, a PEG ratio of 3.52 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 company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last released 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. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during 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 revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.93.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

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.