Byrne Asset Management LLC Decreases Stake in CocaCola Company (The) $KO

Byrne Asset Management LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065 shares of the company’s stock after selling 200 shares during the quarter. Byrne Asset Management LLC’s holdings in CocaCola were worth $75,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KO. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at approximately $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC raised its holdings in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares during the period. IFM Investors Pty Ltd lifted its position in CocaCola by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company’s stock worth $54,635,000 after buying an additional 3,837 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its stake in CocaCola by 37.7% during the first quarter. Advisors Capital Management LLC now owns 471,034 shares of the company’s stock worth $33,735,000 after buying an additional 128,852 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other 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 transaction of $2,584,063.60. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several recent analyst reports. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group reduced their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat, CocaCola has an average rating of “Buy” and a consensus price target of $76.93.

CocaCola Price Performance

CocaCola stock opened at $66.22 on Tuesday. 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 stock has a market cap of $284.99 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The firm has a 50-day moving average of $69.20 and a two-hundred day moving average of $70.33. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping 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 business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

CocaCola Company 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.