Synergy Asset Management LLC Has $23.66 Million Holdings in CocaCola Company (The) $KO

Synergy Asset Management LLC cut its holdings in CocaCola Company (The) (NYSE:KO) by 9.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 334,421 shares of the company’s stock after selling 36,488 shares during the period. CocaCola makes up approximately 2.7% of Synergy Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Synergy Asset Management LLC’s holdings in CocaCola were worth $23,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the first quarter valued at about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the first 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 grew its stake in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KO shares. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola has an average rating of “Buy” and a consensus price target of $76.93.

CocaCola Stock Down 1.0%

CocaCola stock opened at $66.09 on Friday. 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 52-week low of $60.62 and a 52-week high of $74.38. The firm has a 50 day moving average price of $68.32 and a two-hundred day moving average price of $69.96. The firm 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 (NYSE:KO) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business earned $0.84 EPS. The company’s 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. Equities analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business 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. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola’s payout ratio is currently 72.34%.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on 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 completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is owned by corporate insiders.

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.