OLD National Bancorp IN Has $5.41 Million Stock Position in CocaCola Company (The) $KO

OLD National Bancorp IN lifted its stake in CocaCola Company (The) (NYSE:KO) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 76,437 shares of the company’s stock after acquiring an additional 2,874 shares during the period. OLD National Bancorp IN’s holdings in CocaCola were worth $5,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the period. Pines Wealth Management LLC increased its stake in CocaCola by 18.5% in the first quarter. Pines Wealth Management LLC now owns 6,446 shares of the company’s stock valued at $441,000 after purchasing an additional 1,006 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in CocaCola by 10.8% in the first quarter. Sivia Capital Partners LLC now owns 8,985 shares of the company’s stock worth $644,000 after purchasing an additional 878 shares during the period. Finally, Wedmont Private Capital boosted its position in shares of CocaCola by 4.2% during the first quarter. Wedmont Private Capital now owns 53,407 shares of the company’s stock worth $3,815,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KO shares. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus price target of $76.93.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 sale, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by insiders.

CocaCola Stock Up 0.8%

NYSE:KO opened at $66.65 on Monday. The stock has a 50-day simple moving average of $68.27 and a 200 day simple moving average of $69.95. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $286.86 billion, a PE ratio of 23.64, a PEG ratio of 3.47 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping 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 firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The business’s revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

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.