Armstrong Fleming & Moore Inc Boosts Stock Position in CocaCola Company (The) $KO

Armstrong Fleming & Moore Inc raised its position in shares of CocaCola Company (The) (NYSE:KO) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,463 shares of the company’s stock after purchasing an additional 1,386 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in CocaCola were worth $599,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KO. Nuveen LLC acquired a new position in shares of CocaCola in the 1st quarter valued at about $1,508,657,000. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the period. Boston Partners acquired a new position in shares of CocaCola in the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. raised its holdings in CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in CocaCola by 497.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock worth $321,548,000 after purchasing an additional 3,737,646 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.93.

CocaCola Trading Down 1.0%

KO opened at $66.10 on Thursday. The firm has a market cap of $284.47 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.48 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a fifty day simple moving average of $68.13 and a 200-day simple moving average of $69.88.

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. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. During the same period last year, the firm earned $0.84 earnings per share. CocaCola’s quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s 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 owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by company insiders.

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.