Godsey & Gibb Inc. Cuts Stake in CocaCola Company (The) $KO

Godsey & Gibb Inc. cut its holdings in CocaCola Company (The) (NYSE:KO) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,016 shares of the company’s stock after selling 718 shares during the period. CocaCola accounts for 2.3% of Godsey & Gibb Inc.’s holdings, making the stock its 20th biggest holding. Godsey & Gibb Inc.’s holdings in CocaCola were worth $24,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KO. Brighton Jones LLC increased its stake in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its position in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares during the last quarter. OLD National Bancorp IN lifted its position in CocaCola by 22.0% during the first quarter. OLD National Bancorp IN now owns 73,563 shares of the company’s stock valued at $5,269,000 after purchasing an additional 13,251 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of CocaCola by 19.6% in the 1st quarter. Park Avenue Securities LLC now owns 100,540 shares of the company’s stock worth $7,201,000 after buying an additional 16,460 shares in the last quarter. Finally, Single Point Partners LLC bought a new stake in shares of CocaCola in the 1st quarter worth about $233,000. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 0.8%

Shares of KO stock opened at $66.09 on Tuesday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $284.43 billion, a PE ratio of 23.44, a P/E/G ratio of 3.47 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock’s 50-day simple moving average is $68.23 and its 200-day simple moving average is $69.93.

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 the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the company earned $0.84 EPS. CocaCola’s quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on KO shares. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company reduced their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

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.