CocaCola Company (The) $KO Shares Purchased by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida increased its position in shares of CocaCola Company (The) (NYSE:KO) by 26.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,405 shares of the company’s stock after purchasing an additional 1,560 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in CocaCola were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi lifted its holdings in shares of CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of CocaCola during the first quarter worth about $1,508,657,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Down 0.9%

Shares of KO stock opened at $67.00 on Monday. 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 company has a market cap of $288.35 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.49 and a beta of 0.43. The stock has a 50 day simple moving average of $69.29 and a 200-day simple moving average of $70.37. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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

CocaCola Dividend Announcement

The company 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. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola’s payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. boosted 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. Finally, UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $76.93.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 transaction of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% 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.