Bingham Private Wealth LLC Has $922,000 Position in CocaCola Company (The) $KO

Key Points

• Bingham Private Wealth LLC significantly increased its stake in Coca-Cola by 64.6% during Q2, now owning 13,030 shares valued at $922,000.
• Analysts have varying price targets for Coca-Cola, with JPMorgan setting a new target at $79.00, while UBS lowered theirs to $80.00; the stock has a consensus rating of "Buy".
• Coca-Cola recently declared a $0.51 dividend per share, representing an annualized yield of 3.1%, with a payout ratio of 72.34%.

Bingham Private Wealth LLC boosted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 64.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,030 shares of the company's stock after buying an additional 5,116 shares during the quarter. Bingham Private Wealth LLC's holdings in CocaCola were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the 1st quarter valued at approximately $25,000. 1248 Management LLC purchased a new position in CocaCola during the first quarter worth about $26,000. Garde Capital Inc. bought a new position in shares of CocaCola in the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. raised its position in shares of 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 buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its stake in CocaCola by 148.4% during 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. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group lowered their price objective 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. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Finally, Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $76.93.

CocaCola Stock Down 0.8%

Shares of NYSE KO opened at $66.09 on Tuesday. The firm has a market capitalization of $284.43 billion, a price-to-earnings ratio of 23.44, a PEG 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. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a 50 day moving average price of $68.23 and a 200 day moving average price of $69.93.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS 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 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 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. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company 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 (DPR) is presently 72.34%.

Insider Buying and Selling at CocaCola

In related 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 in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.

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