Proathlete Wealth Management LLC Raises Position in CocaCola Company (The) $KO

Proathlete Wealth Management LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,372 shares of the company’s stock after buying an additional 155 shares during the period. Proathlete Wealth Management LLC’s holdings in CocaCola were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 worth $2,212,300,000 after acquiring an additional 1,794,561 shares during the last quarter. Amundi boosted its stake in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of CocaCola during the 1st quarter worth $1,508,657,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Up 0.1%

KO stock opened at $66.52 on Monday. The firm has a market cap of $286.28 billion, a PE ratio of 23.59, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The firm’s fifty day moving average is $68.93 and its 200 day moving average is $70.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business earned $0.84 earnings per share. The firm’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. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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 paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola’s payout ratio is 72.34%.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas restated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Morgan Stanley restated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $76.93.

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.