Moloney Securities Asset Management LLC Has $3.54 Million Stock Position in The Coca-Cola Company (NYSE:KO)

05 Nov 2024, 12:12 by Michael Walen · The Markets Daily

Moloney Securities Asset Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,289 shares of the company’s stock after selling 2,209 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Coca-Cola were worth $3,542,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola during the first quarter valued at $28,000. DiNuzzo Private Wealth Inc. lifted its holdings in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.2 %

Shares of NYSE:KO opened at $65.11 on Tuesday. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The business’s 50 day moving average price is $70.18 and its 200-day moving average price is $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $280.48 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.95 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Get Our Latest Research Report on KO

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

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