City Holding Co. Boosts Stock Position in CocaCola Company (The) $KO

City Holding Co. boosted its position in shares of CocaCola Company (The) (NYSE:KO) by 5.8% during the second quarter, Holdings Channel.com reports. The fund owned 102,834 shares of the company’s stock after acquiring an additional 5,664 shares during the quarter. CocaCola accounts for 1.0% of City Holding Co.’s investment portfolio, making the stock its 25th largest holding. City Holding Co.’s holdings in CocaCola were worth $7,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in CocaCola in the 1st quarter worth $25,000. 1248 Management LLC bought a new position in shares of CocaCola in 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. lifted its holdings in CocaCola by 360.0% in 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 in the last quarter. Finally, Ridgewood Investments LLC grew its holdings in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Down 0.5%

Shares of KO opened at $65.64 on Friday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company’s fifty day simple moving average is $68.58 and its 200-day simple moving average is $70.05. The company has a market cap of $282.49 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.42 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data 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 net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be 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 of this dividend is Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Wells Fargo & Company dropped their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, UBS Group reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $76.93.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

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.