First Financial Bankshares Inc Trims Holdings in CocaCola Company (The) $KO

Key Points

• First Financial Bankshares Inc reduced its stake in CocaCola Company by 5.6%, selling 54,009 shares, and currently holds 911,433 shares, valued at approximately $65.3 million.
• CocaCola announced a quarterly dividend of $0.51 per share, with a yield of 3.0%, to be paid on October 1st, after a record date of September 15th.
• Several analysts have maintained a positive outlook on CocaCola, with a consensus target price of $77.21, indicating a strong buy sentiment among investment analysts.

First Financial Bankshares Inc decreased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 911,433 shares of the company's stock after selling 54,009 shares during the quarter. CocaCola makes up approximately 1.4% of First Financial Bankshares Inc's holdings, making the stock its 24th biggest holding. First Financial Bankshares Inc's holdings in CocaCola were worth $65,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KO. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. boosted its position in CocaCola by 360.0% during the first 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. Ridgewood Investments LLC increased its holdings in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC lifted its holdings in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. UBS Group cut their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CocaCola has an average rating of "Buy" and an average price target of $77.21.

CocaCola Stock Down 1.1%

Shares of CocaCola stock traded down $0.73 on Thursday, hitting $68.26. The company had a trading volume of 16,557,030 shares, compared to its average volume of 16,880,996. 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 stock has a market capitalization of $293.78 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.59 and a beta of 0.43. The stock has a 50 day moving average of $69.73 and a 200-day moving average of $70.49. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the business posted $0.84 earnings per share. CocaCola's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's payout ratio is 72.34%.

Insider Transactions 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 owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.

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.