Penobscot Investment Management Company Inc. Sells 166 Shares of CocaCola Company (The) $KO

Penobscot Investment Management Company Inc. lowered its holdings in CocaCola Company (The) (NYSE:KO) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,937 shares of the company’s stock after selling 166 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in CocaCola were worth $2,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KO. Brighton Jones LLC grew its stake in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Fermata Advisors LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $459,000. Retirement Planning Group LLC boosted its holdings in shares of CocaCola by 3.0% in the 1st quarter. Retirement Planning Group LLC now owns 12,393 shares of the company’s stock worth $888,000 after acquiring an additional 359 shares in the last quarter. Finally, Breakwater Capital Group boosted its holdings in shares of CocaCola by 4.6% in the 1st quarter. Breakwater Capital Group now owns 7,989 shares of the company’s stock worth $572,000 after acquiring an additional 354 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the 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 transaction, the insider directly owned 209,513 shares in the company, valued at $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 is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KO. Wells Fargo & Company reduced their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $76.93.

CocaCola Price Performance

KO opened at $66.65 on Friday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. 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 company’s 50 day simple moving average is $68.27 and its 200-day simple moving average is $69.94. The stock has a market capitalization of $286.86 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43.

CocaCola (NYSE:KO) last released 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 business had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. During the same period in the prior year, the firm 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. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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