Birmingham Capital Management Co. Inc. AL Cuts Position in CocaCola Company (The) $KO

Key Points

• Birmingham Capital Management Co. Inc. AL has reduced its stake in CocaCola Company (KO) by 6.2%, now holding 73,889 shares valued at approximately $5.29 million.
• Recent analyst reports from firms like Royal Bank of Canada and JPMorgan have set target prices for CocaCola stock between $76.00 and $81.00, with a general consensus rating of "Buy".
• CocaCola announced a quarterly dividend of $0.51 per share, translating to a 3.0% yield, with the ex-dividend date set for September 15th.

Birmingham Capital Management Co. Inc. AL reduced its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,889 shares of the company's stock after selling 4,900 shares during the quarter. CocaCola comprises 2.0% of Birmingham Capital Management Co. Inc. AL's investment portfolio, making the stock its 18th biggest holding. Birmingham Capital Management Co. Inc. AL's holdings in CocaCola were worth $5,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola during the 1st quarter worth $216,000. Cornerstone Wealth Management LLC boosted its holdings in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after buying an additional 1,794,561 shares during the period. IFM Investors Pty Ltd grew its position in CocaCola by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company's stock worth $54,635,000 after buying an additional 3,837 shares during the period. Finally, Fosun International Ltd purchased a new position in CocaCola in the first quarter valued at about $216,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $76.93.

CocaCola Trading Down 0.9%

Shares of NYSE KO traded down $0.62 on Friday, reaching $67.00. 18,684,181 shares of the company traded hands, compared to its average volume of 15,985,507. The stock has a market capitalization of $288.35 billion, a PE ratio of 23.76, a P/E/G ratio of 3.52 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 company has a 50 day moving average of $69.29 and a 200 day moving average of $70.37.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (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 firm 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 earned $0.84 earnings per share. CocaCola's 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. On average, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Insider Buying and Selling 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 value of $2,584,063.60. Following the transaction, the insider 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company's stock.

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.