Opal Wealth Advisors LLC Sells 5,465 Shares of CocaCola Company (The) $KO

Opal Wealth Advisors LLC cut its position in shares of CocaCola Company (The) (NYSE:KO) by 32.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,234 shares of the company’s stock after selling 5,465 shares during the quarter. Opal Wealth Advisors LLC’s holdings in CocaCola were worth $795,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the first quarter worth about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola during the 1st quarter worth approximately $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola during the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its position in shares of 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 purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on KO. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Performance

KO opened at $66.27 on Tuesday. The business has a fifty day simple moving average of $68.87 and a 200 day simple moving average of $70.18. The company has a market capitalization of $285.20 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. 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 (NYSE:KO) last released its quarterly earnings results 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 business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola’s payout ratio is currently 72.34%.

Insiders Place Their Bets

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

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.