Sterling Investment Counsel LLC Has $849,000 Stock Position in CocaCola Company (The) $KO

Sterling Investment Counsel LLC reduced its holdings in shares of CocaCola Company (The) (NYSE:KO) by 69.4% in the second quarter, Holdings Channel reports. The institutional investor owned 12,004 shares of the company’s stock after selling 27,246 shares during the period. Sterling Investment Counsel LLC’s holdings in CocaCola were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 valued at $25,869,202,000 after buying an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP grew 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 valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Amundi grew 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 valued at $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of CocaCola during the first quarter valued at about $1,508,657,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Down 1.0%

KO opened at $66.09 on Friday. 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 stock has a market cap of $284.44 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.48 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company’s 50-day moving average price is $68.32 and its two-hundred day moving average price is $69.96.

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

CocaCola Announces Dividend

The business also recently announced 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 payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KO shares. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Wells Fargo & Company cut their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. BNP Paribas restated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a 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, JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $76.93.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was 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. 0.97% of the stock is currently owned by insiders.

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.