Asset Advisors Investment Management LLC Reduces Position in CocaCola Company (The) $KO

Asset Advisors Investment Management LLC cut its position in CocaCola Company (The) (NYSE:KO) by 0.4% during the second quarter, HoldingsChannel reports. The firm owned 243,681 shares of the company’s stock after selling 1,015 shares during the quarter. CocaCola accounts for 1.7% of Asset Advisors Investment Management LLC’s holdings, making the stock its 20th biggest position. Asset Advisors Investment Management LLC’s holdings in CocaCola were worth $17,240,000 at the end of the most recent reporting period.

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

CocaCola Trading Down 1.0%

KO opened at $66.09 on Friday. The stock has a market capitalization of $284.44 billion, a PE ratio of 23.44, a P/E/G ratio of 3.48 and a beta of 0.43. The firm’s fifty day moving average price is $68.32 and its 200 day moving average price is $69.96. 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 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last issued 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 company 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 firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated Tuesday, August 5th. The shares were 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 in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.