Morey & Quinn Wealth Partners LLC Reduces Stock Holdings in CocaCola Company (The) $KO

Morey & Quinn Wealth Partners LLC reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,210 shares of the company’s stock after selling 400 shares during the quarter. Morey & Quinn Wealth Partners LLC’s holdings in CocaCola were worth $298,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Schrum Private Wealth Management LLC raised its holdings in shares of CocaCola by 2.1% during the 2nd quarter. Schrum Private Wealth Management LLC now owns 10,248 shares of the company’s stock valued at $725,000 after buying an additional 210 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of CocaCola by 4.1% during the 2nd quarter. Maryland State Retirement & Pension System now owns 189,019 shares of the company’s stock valued at $13,373,000 after buying an additional 7,473 shares during the period. Optas LLC raised its holdings in shares of CocaCola by 12.4% during the 2nd quarter. Optas LLC now owns 9,693 shares of the company’s stock valued at $686,000 after buying an additional 1,067 shares during the period. Capital Management Associates Inc purchased a new stake in CocaCola during the 2nd quarter worth approximately $266,000. Finally, Massachusetts Wealth Management increased its holdings in CocaCola by 1.2% during the 2nd quarter. Massachusetts Wealth Management now owns 35,121 shares of the company’s stock worth $2,485,000 after purchasing an additional 415 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction 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 owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KO. Wells Fargo & Company dropped their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. UBS Group dropped their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $76.93.

CocaCola Trading Down 1.0%

Shares of KO stock opened at $66.10 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a fifty day moving average of $68.13 and a two-hundred day moving average of $69.88. The firm has a market capitalization of $284.47 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly 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. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

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.