Northstar Group Inc. Cuts Stock Position in CocaCola Company (The) $KO

Northstar Group Inc. lessened its stake in CocaCola Company (The) (NYSE:KO) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,817 shares of the company’s stock after selling 678 shares during the period. Northstar Group Inc.’s holdings in CocaCola were worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola during the first quarter worth about $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola during the first quarter worth about $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its stake 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 last quarter. Finally, Ridgewood Investments LLC grew its stake 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 last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction 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. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company dropped their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. 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 note on Wednesday, July 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Performance

Shares of NYSE KO opened at $66.75 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a 50 day simple moving average of $68.38 and a two-hundred day simple moving average of $69.99. The stock has a market cap of $287.25 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings data 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 business 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 business posted $0.84 EPS. The business’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, analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

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.