CocaCola Company (The) $KO Shares Sold by First Merchants Corp

First Merchants Corp decreased its holdings in CocaCola Company (The) (NYSE:KO) by 26.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,591 shares of the company’s stock after selling 9,481 shares during the quarter. First Merchants Corp’s holdings in CocaCola were worth $1,881,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the first quarter worth $216,000. Perigon Wealth Management LLC grew its stake in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after acquiring an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CocaCola by 6.2% in the first 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 in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Roundview Capital LLC grew its stake in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after acquiring an additional 2,923 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

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

CocaCola Price Performance

Shares of KO opened at $66.10 on Thursday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market cap of $284.47 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43. 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 firm has a fifty day moving average price of $68.13 and a 200 day moving average price of $69.88.

CocaCola (NYSE:KO) last announced its quarterly earnings results 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 net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. During the same period in the previous year, the company earned $0.84 earnings per share. CocaCola’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. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued 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 is presently 72.34%.

Wall Street Analyst Weigh In

KO has been the subject of a number of analyst reports. 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. Wells Fargo & Company lowered their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. Finally, UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.93.

CocaCola 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.