Bingham Private Wealth LLC Boosts Stock Position in CocaCola Company (The) $KO

Bingham Private Wealth LLC lifted its stake in shares of CocaCola Company (The) (NYSE:KO) by 64.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,030 shares of the company’s stock after acquiring an additional 5,116 shares during the quarter. Bingham Private Wealth LLC’s holdings in CocaCola were worth $922,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the 1st quarter worth $25,000. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter worth approximately $26,000. Garde Capital Inc. acquired a new stake in CocaCola in the first quarter valued at $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC grew its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of NYSE KO opened at $66.09 on Tuesday. 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 business’s 50-day simple moving average is $68.23 and its 200-day simple moving average is $69.93. The firm has a market cap of $284.43 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.47 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the 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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Saturday, September 27th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.93.

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.