Jacobi Capital Management LLC Reduces Holdings in CocaCola Company (The) $KO

Jacobi Capital Management LLC decreased its position in CocaCola Company (The) (NYSE:KO) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,502 shares of the company’s stock after selling 472 shares during the period. Jacobi Capital Management LLC’s holdings in CocaCola were worth $5,049,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KO. Nuveen LLC purchased a new position in shares of CocaCola during the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP boosted its position in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. Boston Partners purchased a new position in shares of CocaCola during the 1st quarter worth approximately $642,183,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 5,891,034 shares during the period. Finally, Raymond James Financial Inc. boosted its position in shares of CocaCola by 47.4% during 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. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus target price of $77.21.

CocaCola Stock Performance

Shares of KO stock opened at $67.83 on Thursday. 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 stock has a market capitalization of $291.90 billion, a PE ratio of 24.05, a P/E/G ratio of 3.53 and a beta of 0.43. The firm has a 50 day moving average of $69.45 and a two-hundred day moving average of $70.42.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 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 company had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. During the same quarter last year, the company posted $0.84 EPS. The firm’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. On average, research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is presently 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.