Precedent Wealth Partners LLC Takes Position in CocaCola Company (The) $KO

Precedent Wealth Partners LLC acquired a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,728 shares of the company's stock, valued at approximately $1,184,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $25,000. 1248 Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in 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 during the last quarter. Finally, Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% in 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. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised 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, Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to MarketBeat, CocaCola has an average rating of "Buy" and a consensus target price of $76.93.

CocaCola Stock Performance

Shares of KO opened at $66.65 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $69.94. The firm has a market capitalization of $286.86 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43.

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 the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the business posted $0.84 earnings per share. CocaCola's quarterly 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, analysts anticipate 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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

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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