Balentine LLC Sells 50,480 Shares of CocaCola Company (The) $KO

Balentine LLC decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 71.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 20,149 shares of the company’s stock after selling 50,480 shares during the quarter. Balentine LLC’s holdings in CocaCola were worth $1,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Syverson Strege & Co bought a new stake in CocaCola during the second quarter worth about $326,000. AlphaStar Capital Management LLC bought a new stake in CocaCola during the second quarter worth about $2,397,000. Creative Financial Designs Inc. ADV lifted its position in CocaCola by 5.3% during the second quarter. Creative Financial Designs Inc. ADV now owns 24,268 shares of the company’s stock worth $1,717,000 after purchasing an additional 1,217 shares during the period. Lockheed Martin Investment Management Co. lifted its position in CocaCola by 134.9% during the second quarter. Lockheed Martin Investment Management Co. now owns 502,385 shares of the company’s stock worth $35,544,000 after purchasing an additional 288,490 shares during the period. Finally, AMG National Trust Bank lifted its position in CocaCola by 1.9% during the second quarter. AMG National Trust Bank now owns 131,102 shares of the company’s stock worth $9,275,000 after purchasing an additional 2,409 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KO shares. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $78.31.

CocaCola Stock Down 0.1%

Shares of NYSE KO opened at $68.94 on Friday. The company has a 50 day simple moving average of $67.73 and a 200 day simple moving average of $69.68. The firm has a market cap of $296.56 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 67.55%.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by company 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.