Grimes & Company Inc. Buys 2,563 Shares of CocaCola Company (The) $KO

Grimes & Company Inc. increased its position in CocaCola Company (The) (NYSE:KO) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,140 shares of the company’s stock after purchasing an additional 2,563 shares during the period. Grimes & Company Inc.’s holdings in CocaCola were worth $1,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in CocaCola in the 1st quarter valued at approximately $25,000. 1248 Management LLC bought a new position in shares of CocaCola during the first quarter valued at $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. increased its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC raised its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KO shares. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company dropped their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, BNP Paribas restated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.8%

Shares of NYSE:KO opened at $66.09 on Tuesday. The stock has a 50 day moving average of $68.23 and a 200 day moving average of $69.93. The company has a market cap of $284.43 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

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

CocaCola Announces Dividend

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