Catalyst Capital Advisors LLC Cuts Stake in CocaCola Company (The) $KO

Catalyst Capital Advisors LLC reduced its position in CocaCola Company (The) (NYSE:KO) by 52.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,534 shares of the company’s stock after selling 4,944 shares during the period. Catalyst Capital Advisors LLC’s holdings in CocaCola were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola in the first quarter worth $25,000. 1248 Management LLC purchased a new position in CocaCola in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC grew its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in CocaCola in the second quarter worth $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company’s 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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

NYSE:KO opened at $69.74 on Friday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 1.21. The firm has a market cap of $300.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.66 and a beta of 0.43. The firm’s fifty day moving average is $67.81 and its two-hundred day moving average is $69.73.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. TD Cowen boosted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola 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.