Highland Capital Management LLC Has $6 Million Stock Position in CocaCola Company (The) $KO

Highland Capital Management LLC lifted its stake in CocaCola Company (The) (NYSE:KO) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 84,866 shares of the company’s stock after purchasing an additional 2,048 shares during the period. Highland Capital Management LLC’s holdings in CocaCola were worth $6,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MorganRosel Wealth Management LLC acquired a new stake in CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC acquired a new stake in CocaCola during the 1st quarter worth about $26,000. Garde Capital Inc. acquired a new stake in CocaCola during the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its position in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC boosted its position in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Up 0.8%

Shares of CocaCola stock opened at $66.65 on Friday. The stock has a 50-day simple moving average of $68.27 and a 200-day simple moving average of $69.94. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market cap of $286.86 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 3.47 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the business earned $0.84 EPS. The firm’s 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, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company decreased their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group reduced their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $76.93.

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.