First County Bank CT Sells 1,815 Shares of CocaCola Company (The) $KO

First County Bank CT lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,676 shares of the company’s stock after selling 1,815 shares during the quarter. First County Bank CT’s holdings in CocaCola were worth $968,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KO. Nuveen LLC acquired a new stake in shares of CocaCola in the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP increased its holdings in 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 in the last quarter. Boston Partners purchased a new position in shares of CocaCola during the first quarter valued at approximately $642,183,000. Raymond James Financial Inc. boosted its position in shares of CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after buying an additional 3,810,752 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of CocaCola by 497.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock valued at $321,548,000 after buying an additional 3,737,646 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Trading Down 0.5%

NYSE:KO opened at $65.64 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $282.49 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.43. The firm’s 50 day moving average is $68.58 and its 200 day moving average is $70.06. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business 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 for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid 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 yield of 3.1%. CocaCola’s payout ratio is currently 72.34%.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 transaction of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KO. UBS Group dropped their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.