Precedent Wealth Partners LLC Takes Position in CocaCola Company (The) $KO

Precedent Wealth Partners LLC acquired a new stake in shares of CocaCola Company (The) (NYSE:KO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,728 shares of the company’s stock, valued at approximately $1,184,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $25,000. 1248 Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to MarketBeat, CocaCola has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Performance

Shares of KO opened at $66.65 on Friday. 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 one year low of $60.62 and a one year high of $74.38. The company has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $69.94. The firm has a market capitalization of $286.86 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS 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 business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the business posted $0.84 earnings per share. CocaCola’s quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

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.