CocaCola Company (The) $KO Shares Sold by Bangor Savings Bank

Bangor Savings Bank lowered its stake in CocaCola Company (The) (NYSE:KO) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,611 shares of the company’s stock after selling 564 shares during the period. Bangor Savings Bank’s holdings in CocaCola were worth $751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of CocaCola by 7.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,507 shares of the company’s stock worth $1,097,000 after buying an additional 1,136 shares during the last quarter. Garde Capital Inc. raised its holdings in shares of CocaCola by 184.5% in the second quarter. Garde Capital Inc. now owns 1,209 shares of the company’s stock worth $86,000 after buying an additional 784 shares during the last quarter. McLean Asset Management Corp raised its holdings in shares of CocaCola by 7.2% in the second quarter. McLean Asset Management Corp now owns 4,072 shares of the company’s stock worth $289,000 after buying an additional 274 shares during the last quarter. Trust Co of the South raised its holdings in shares of CocaCola by 4.6% in the second quarter. Trust Co of the South now owns 5,779 shares of the company’s stock worth $409,000 after buying an additional 252 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in shares of CocaCola by 3.4% in the second quarter. Fiduciary Financial Group LLC now owns 5,867 shares of the company’s stock worth $420,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $76.93.

CocaCola Stock Down 0.9%

KO stock opened at $67.00 on Friday. The firm’s fifty day moving average is $69.29 and its 200 day moving average is $70.37. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market cap of $288.35 billion, a PE ratio of 23.76, a P/E/G ratio of 3.52 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter 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, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced 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 dividend payout ratio (DPR) is 72.34%.

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.