Mengis Capital Management Inc. Sells 1,072 Shares of CocaCola Company (The) $KO

Mengis Capital Management Inc. cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,093 shares of the company’s stock after selling 1,072 shares during the quarter. Mengis Capital Management Inc.’s holdings in CocaCola were worth $3,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola in the 1st quarter worth approximately $25,000. 1248 Management LLC purchased a new position in CocaCola during the 1st quarter valued at $26,000. Garde Capital Inc. purchased a new position in CocaCola during the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. increased its position in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 360 shares during the period. Finally, Ridgewood Investments LLC grew its position in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Trading Up 0.3%

CocaCola stock opened at $66.30 on Friday. The firm has a 50 day moving average of $68.09 and a 200 day moving average of $69.86. The firm has a market capitalization of $285.33 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 3.44 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 released its 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 analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KO shares. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. UBS Group cut their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price 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.