CocaCola Company (The) $KO Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 7.3% in the second quarter, HoldingsChannel reports. The firm owned 53,683 shares of the company’s stock after buying an additional 3,630 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in CocaCola were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the first quarter worth about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the first quarter worth about $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its position in shares of CocaCola by 360.0% in 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 period. Finally, Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% in 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 period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related 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 transaction of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Saturday, September 27th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, UBS Group cut 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 analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Up 0.8%

KO stock opened at $66.65 on Friday. The stock has a market capitalization of $286.86 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.45 and a beta of 0.43. The firm has a 50-day simple moving average of $68.27 and a 200-day simple moving average of $69.94. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend 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.