CocaCola Company (The) $KO Shares Bought by Chemung Canal Trust Co.

Key Points

• Chemung Canal Trust Co. increased its stake in CocaCola by 12.0% during the second quarter, holding 119,023 shares valued at approximately $8.42 million.
• CocaCola reported a quarterly earnings per share (EPS) of $0.87, exceeding the consensus estimate by $0.04, with revenue reaching $12.50 billion.
• The company recently declared a quarterly dividend of $0.51 per share, resulting in an annualized dividend yield of 3.1%.

Chemung Canal Trust Co. raised its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,023 shares of the company's stock after buying an additional 12,719 shares during the quarter. CocaCola comprises about 1.8% of Chemung Canal Trust Co.'s portfolio, making the stock its 17th biggest holding. Chemung Canal Trust Co.'s holdings in CocaCola were worth $8,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the first quarter valued at about $25,000. 1248 Management LLC acquired a new position in CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new position in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its position in shares of CocaCola by 360.0% during 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 in the last quarter. Finally, Ridgewood Investments LLC lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $66.65 on Friday. The firm has a market capitalization 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 Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm's 50 day moving average is $68.27 and its two-hundred day moving average is $69.94.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts forecast 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 given a dividend of $0.51 per share. The ex-dividend date 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 72.34%.

Analyst Ratings Changes

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

Insider Activity

In other 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 transaction of $2,584,063.60. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company's stock.

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.

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