Congress Asset Management Co. Has $1.44 Million Position in CocaCola Company (The) $KO

Congress Asset Management Co. reduced its stake in CocaCola Company (The) (NYSE:KO) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,318 shares of the company’s stock after selling 343 shares during the period. Congress Asset Management Co.’s holdings in CocaCola were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the last quarter. Two Sigma Investments LP lifted its holdings in CocaCola by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 48,000 shares of the company’s stock valued at $2,988,000 after buying an additional 621 shares during the period. First Hawaiian Bank boosted its stake in CocaCola by 147.0% in the first quarter. First Hawaiian Bank now owns 12,536 shares of the company’s stock valued at $898,000 after acquiring an additional 7,461 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after acquiring an additional 5,891,034 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas reissued an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley restated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. UBS Group reduced their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, Wells Fargo & Company decreased their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Down 0.5%

Shares of KO stock opened at $65.64 on Friday. The firm’s fifty day moving average price is $68.58 and its two-hundred day moving average price is $70.05. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $282.49 billion, a P/E ratio of 23.28, a PEG ratio of 3.42 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola’s payout ratio is presently 72.34%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.