First City Capital Management Inc. Acquires 666 Shares of CocaCola Company (The) $KO

First City Capital Management Inc. raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 56,929 shares of the company’s stock after purchasing an additional 666 shares during the period. CocaCola accounts for about 2.3% of First City Capital Management Inc.’s portfolio, making the stock its 12th largest position. First City Capital Management Inc.’s holdings in CocaCola were worth $4,028,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the first quarter worth $25,000. 1248 Management LLC bought a new position in shares of CocaCola in the 1st quarter worth $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other 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 value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by insiders.

CocaCola Stock Down 0.5%

KO stock opened at $66.40 on Thursday. The stock has a market capitalization of $285.74 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $68.76 and a 200 day moving average of $70.13.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on KO shares. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. UBS Group cut their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.93.

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.