Segment Wealth Management LLC Trims Stock Position in CocaCola Company (The) $KO

Segment Wealth Management LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,378 shares of the company’s stock after selling 1,283 shares during the period. Segment Wealth Management LLC’s holdings in CocaCola were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Republic Capital LLC raised its holdings in shares of CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after buying an additional 139 shares during the last quarter. Alteri Wealth LLC grew its position in CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after buying an additional 140 shares during the period. Requisite Capital Management LLC grew its position in CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after buying an additional 142 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock valued at $1,439,000 after purchasing an additional 143 shares during the last quarter. Finally, MBA Advisors LLC grew its position in shares of CocaCola by 1.2% in the first quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after purchasing an additional 143 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KO has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. UBS Group cut their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $76.93.

CocaCola Price Performance

Shares of KO stock opened at $66.65 on Friday. The firm has a market cap 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 company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a fifty day moving average of $68.27 and a two-hundred day moving average of $69.94.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping 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 company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the business earned $0.84 EPS. The firm’s revenue for the quarter 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, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. 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.