Canandaigua National Bank & Trust Co. Increases Stock Holdings in CocaCola Company (The) $KO

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in CocaCola Company by 12.3% during the second quarter, bringing its total holdings to 96,807 shares valued at approximately $6.85 million.
• Several hedge funds have also raised their holdings in CocaCola, contributing to institutional investors owning 70.26% of the company's stock.
• CocaCola announced a quarterly dividend of $0.51 per share, representing an annual yield of 3.0%, with the payment scheduled for October 1st.

Canandaigua National Bank & Trust Co. lifted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,807 shares of the company's stock after purchasing an additional 10,627 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in CocaCola were worth $6,849,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. New Republic Capital LLC grew its holdings in shares of CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC grew its holdings in shares of CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares during the period. Deseret Mutual Benefit Administrators lifted its position in CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after buying an additional 143 shares during the last quarter. MBA Advisors LLC lifted its position in CocaCola by 1.2% in the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after buying an additional 143 shares during the last quarter. Finally, BXM Wealth LLC lifted its position in CocaCola by 4.3% in the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research 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 report on Monday, June 9th. JPMorgan Chase & Co. upped their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. 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. Finally, UBS Group reduced their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $76.93.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Down 0.9%

Shares of KO opened at $67.00 on Monday. The stock has a market capitalization of $288.35 billion, a PE ratio of 23.76, a P/E/G ratio of 3.49 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company's 50-day simple moving average is $69.29 and its 200-day simple moving average is $70.37.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola's dividend payout ratio (DPR) is 72.34%.

About CocaCola

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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