Keudell Morrison Wealth Management Decreases Stake in CocaCola Company (The) $KO

Keudell Morrison Wealth Management lessened its position in shares of CocaCola Company (The) (NYSE:KO) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,276 shares of the company’s stock after selling 835 shares during the quarter. Keudell Morrison Wealth Management’s holdings in CocaCola were worth $727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Beacon Financial Advisory LLC raised its stake in shares of CocaCola by 1.8% during the 2nd quarter. Beacon Financial Advisory LLC now owns 27,075 shares of the company’s stock worth $1,916,000 after buying an additional 484 shares during the last quarter. Alta Wealth Advisors LLC acquired a new position in shares of CocaCola during the 2nd quarter worth $305,000. Gemmer Asset Management LLC raised its stake in shares of CocaCola by 5.9% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,581 shares of the company’s stock worth $253,000 after buying an additional 200 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of CocaCola by 123.5% during the 2nd quarter. Simplicity Wealth LLC now owns 103,113 shares of the company’s stock worth $7,295,000 after buying an additional 56,983 shares during the last quarter. Finally, Chemung Canal Trust Co. raised its stake in shares of CocaCola by 12.0% during the 2nd quarter. Chemung Canal Trust Co. now owns 119,023 shares of the company’s stock worth $8,421,000 after buying an additional 12,719 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction dated 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 owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Up 0.8%

NYSE KO opened at $66.65 on Friday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a 50-day moving average of $68.27 and a 200-day moving average of $69.94. 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 cap of $286.86 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.47 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The company’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. As a group, equities 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. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola’s dividend payout ratio is currently 72.34%.

Analyst Ratings Changes

KO has been the subject of several research reports. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company cut their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target 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.