CocaCola Company (The) $KO Holdings Lowered by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 8.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,210 shares of the company’s stock after selling 400 shares during the quarter. Morey & Quinn Wealth Partners LLC’s holdings in CocaCola were worth $298,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the first quarter valued at $25,000. 1248 Management LLC acquired a new position in CocaCola during the first quarter valued at $26,000. Garde Capital Inc. acquired a new position in CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC raised its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KO shares. Wells Fargo & Company dropped their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday. Finally, UBS Group dropped their target price on 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 fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was 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 approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

KO opened at $66.10 on Thursday. The company has a market cap of $284.47 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43. The stock has a 50-day moving average of $68.13 and a 200-day moving average of $69.88. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio is 72.34%.

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.