Hanson & Doremus Investment Management Has $2.78 Million Stock Holdings in CocaCola Company (The) $KO

Hanson & Doremus Investment Management decreased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 22.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 39,230 shares of the company’s stock after selling 11,201 shares during the period. Hanson & Doremus Investment Management’s holdings in CocaCola were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the first quarter valued at about $216,000. Perigon Wealth Management LLC boosted its position in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after acquiring an additional 3,920 shares during the period. Finally, Banque Pictet & Cie SA boosted its position in shares of CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after acquiring an additional 85,950 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider 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 filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

CocaCola Stock Down 0.5%

KO stock opened at $65.64 on Monday. The firm has a 50-day moving average price of $68.58 and a 200-day moving average price of $70.06. The stock has a market capitalization of $282.49 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 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.

CocaCola (NYSE:KO) last posted its 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 net margin of 25.89% and a return on equity of 44.91%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 presently 72.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.93.

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.