Philip James Wealth Mangement LLC Sells 8,965 Shares of CocaCola Company (The) $KO

Philip James Wealth Mangement LLC decreased its holdings in CocaCola Company (The) (NYSE:KO) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,815 shares of the company’s stock after selling 8,965 shares during the period. Philip James Wealth Mangement LLC’s holdings in CocaCola were worth $4,232,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sage Financial Management Group Inc. bought a new position in shares of CocaCola in the first quarter worth about $216,000. Perigon Wealth Management LLC boosted its stake in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after buying an additional 4,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares during the last quarter. Finally, Banque Pictet & Cie SA boosted its stake in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after buying an additional 85,950 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

NYSE:KO opened at $66.75 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The business has a 50 day simple moving average of $68.38 and a 200-day simple moving average of $69.99. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $287.25 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued 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 dividend payout ratio is presently 72.34%.

Insider Buying and Selling at CocaCola

In other 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 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 represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $76.93.

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.