ZWJ Investment Counsel Inc. Cuts Holdings in CocaCola Company (The) $KO

ZWJ Investment Counsel Inc. reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,334,333 shares of the company’s stock after selling 11,826 shares during the quarter. CocaCola comprises about 3.5% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 5th largest holding. ZWJ Investment Counsel Inc.’s holdings in CocaCola were worth $94,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the first quarter valued at about $25,000. 1248 Management LLC acquired a new position in CocaCola during the first quarter worth about $26,000. Garde Capital Inc. acquired a new position in CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its holdings in 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 period. Finally, Ridgewood Investments LLC grew its holdings in 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 period. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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 transaction, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Up 0.8%

Shares of KO opened at $66.65 on Friday. The business’s 50-day moving average price is $68.27 and its 200 day moving average price is $69.94. 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. CocaCola Company has a 1-year low of $60.62 and a 1-year 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.

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

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. 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 (DPR) is currently 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.