Sandbar Asset Management LLP lessened its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,260 shares of the company’s stock after selling 3,955 shares during the quarter. Sandbar Asset Management LLP’s holdings in Coca-Cola were worth $497,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC acquired a new position in shares of Coca-Cola in the first quarter worth approximately $25,000. Paladin Advisory Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at $28,000. Fortis Capital Advisors LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $30,000. Finally, KB Financial Partners LLC bought a new position in Coca-Cola during the first quarter worth $31,000. Institutional investors own 68.96% of the company’s stock.
Coca-Cola Price Performance
KO traded up $0.44 during trading on Tuesday, reaching $57.84. 4,464,496 shares of the company were exchanged, compared to its average volume of 13,549,155. The company’s 50-day moving average is $55.99 and its two-hundred day moving average is $59.26. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The company has a market cap of $250.07 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 1.23.
Coca-Cola Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s payout ratio is 73.90%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on KO. Citigroup cut their target price on Coca-Cola from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 11th. Bank of America cut their price target on Coca-Cola from $74.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Morgan Stanley decreased their price objective on Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Finally, Barclays decreased their target price on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.20.
Insider Buying and Selling at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 92,029 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $53.86, for a total value of $4,956,681.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $23,835,527.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO James Quincey sold 92,029 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total value of $4,956,681.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $23,835,527.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Beatriz R. Perez sold 20,534 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.12, for a total value of $1,152,368.08. Following the transaction, the senior vice president now directly owns 143,383 shares in the company, valued at $8,046,653.96. The disclosure for this sale can be found here. Insiders have sold a total of 349,316 shares of company stock valued at $19,716,506 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Coca-Cola 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.
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