Mengis Capital Management Inc. Decreases Holdings in CocaCola Company (The) $KO

Mengis Capital Management Inc. lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,093 shares of the company’s stock after selling 1,072 shares during the period. Mengis Capital Management Inc.’s holdings in CocaCola were worth $3,403,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the first quarter worth about $25,000. 1248 Management LLC purchased a new stake in CocaCola during the first quarter worth about $26,000. Garde Capital Inc. purchased a new stake in CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. increased 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 during the last quarter. Finally, Ridgewood Investments LLC increased its holdings in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. BNP Paribas restated an “outperform” rating and set a $83.00 price objective 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 research note on Monday, July 21st. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat, CocaCola currently has a consensus rating of “Buy” and an average price target of $76.93.

CocaCola Price Performance

KO stock opened at $66.30 on Friday. The firm has a 50 day moving average of $68.09 and a 200-day moving average of $69.86. 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 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market capitalization of $285.33 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 3.44 and a beta of 0.43.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company 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 earned $0.84 earnings per share. CocaCola’s 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. As a group, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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