SteelPeak Wealth LLC Purchases 58,253 Shares of CocaCola Company (The) $KO

SteelPeak Wealth LLC boosted its position in CocaCola Company (The) (NYSE:KO) by 60.3% in the 2nd quarter, Holdings Channel reports. The firm owned 154,895 shares of the company’s stock after buying an additional 58,253 shares during the quarter. SteelPeak Wealth LLC’s holdings in CocaCola were worth $11,036,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter worth about $25,000. 1248 Management LLC bought a new stake in CocaCola in the first quarter worth about $26,000. Garde Capital Inc. bought a new stake in CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. increased its position in shares of CocaCola by 360.0% during the first 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 increased its position in shares of CocaCola by 148.4% during the first 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 own 70.26% of the company’s stock.

CocaCola Stock Performance

Shares of KO stock opened at $66.09 on Tuesday. The firm has a market cap of $284.43 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.47 and a beta of 0.43. The company’s 50 day moving average is $68.23 and its 200 day moving average is $69.93. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last issued 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 company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KO shares. Wells Fargo & Company reduced their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, CocaCola currently has an average 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.