Access Financial Services Inc. Decreases Stock Holdings in CocaCola Company (The) $KO

Access Financial Services Inc. decreased its holdings in CocaCola Company (The) (NYSE:KO) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,275 shares of the company’s stock after selling 179 shares during the quarter. CocaCola accounts for approximately 0.8% of Access Financial Services Inc.’s holdings, making the stock its 18th biggest position. Access Financial Services Inc.’s holdings in CocaCola were worth $2,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KO. Nuveen LLC purchased a new stake in shares of CocaCola during the 1st quarter valued at about $1,508,657,000. Wellington Management Group LLP increased its position in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Boston Partners purchased a new stake in shares of CocaCola during the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. increased its position in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of CocaCola by 497.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock valued at $321,548,000 after purchasing an additional 3,737,646 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Trading Up 0.6%

KO stock opened at $66.75 on Thursday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company has a market capitalization of $287.25 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 3.46 and a beta of 0.43. The business has a 50 day simple moving average of $68.38 and a two-hundred day simple moving average of $69.99.

CocaCola (NYSE:KO) last posted its quarterly earnings results 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. The business 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given 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 was Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KO shares. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Finally, Wells Fargo & Company cut their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus price target of $76.93.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on 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 transaction, the insider directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.