Palumbo Wealth Management LLC Has $401,000 Stock Holdings in CocaCola Company (The) $KO

Palumbo Wealth Management LLC lifted its position in CocaCola Company (The) (NYSE:KO) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,663 shares of the company’s stock after purchasing an additional 954 shares during the quarter. Palumbo Wealth Management LLC’s holdings in CocaCola were worth $401,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the first quarter valued at approximately $25,000. 1248 Management LLC acquired a new stake in CocaCola during the 1st quarter valued at $26,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its position in CocaCola by 360.0% in 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 last quarter. Finally, Ridgewood Investments LLC boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Down 0.5%

Shares of NYSE KO opened at $66.40 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm’s 50-day moving average is $68.76 and its 200-day moving average is $70.13. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $285.74 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly 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. 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 the consensus estimate of $12.55 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. CocaCola’s revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on 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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KO shares. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average price target 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.