Magnus Financial Group LLC Has $959,000 Stock Holdings in CocaCola Company (The) $KO

Magnus Financial Group LLC lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,558 shares of the company’s stock after selling 619 shares during the period. Magnus Financial Group LLC’s holdings in CocaCola were worth $959,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC acquired a new position in CocaCola in the 1st quarter valued at approximately $26,000. Garde Capital Inc. acquired a new position in CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Wells Fargo & Company cut their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.93.

Insider Buying and Selling

In related 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 transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

CocaCola Trading Down 0.7%

KO stock opened at $66.00 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market cap of $284.06 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.46 and a beta of 0.43. The business’s 50 day moving average is $68.67 and its 200-day moving average is $70.09. 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 released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.CocaCola’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola’s dividend payout ratio is 72.34%.

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.