Capital City Trust Co. FL Cuts Stock Holdings in CocaCola Company (The) $KO

Capital City Trust Co. FL lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 464,877 shares of the company’s stock after selling 1,717 shares during the quarter. CocaCola comprises approximately 8.5% of Capital City Trust Co. FL’s holdings, making the stock its largest position. Capital City Trust Co. FL’s holdings in CocaCola were worth $32,890,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Sutton Place Investors LLC acquired a new stake in CocaCola in the 2nd quarter worth approximately $207,000. Wealthcare Capital Partners LLC lifted its stake in shares of CocaCola by 9.1% in the second quarter. Wealthcare Capital Partners LLC now owns 4,271 shares of the company’s stock worth $302,000 after buying an additional 356 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of CocaCola by 8.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 46,468 shares of the company’s stock worth $3,288,000 after buying an additional 3,543 shares during the period. Tandem Investment Partners LLC grew its stake in CocaCola by 17.8% in the 2nd quarter. Tandem Investment Partners LLC now owns 6,069 shares of the company’s stock valued at $429,000 after buying an additional 915 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. grew its stake in CocaCola by 19.4% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 15,349 shares of the company’s stock valued at $1,086,000 after buying an additional 2,492 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 0.8%

KO opened at $66.65 on Friday. The company has a market capitalization of $286.86 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.47 and a beta of 0.43. 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 firm’s fifty day moving average price is $68.27 and its two-hundred day moving average price is $69.94. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (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 analysts’ expectations of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reiterated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Wells Fargo & Company reduced their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.93.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

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.