CocaCola Company (The) $KO Position Cut by Evelyn Partners Asset Management Ltd

Evelyn Partners Asset Management Ltd reduced its holdings in CocaCola Company (The) (NYSE:KO) by 57.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,357 shares of the company’s stock after selling 9,743 shares during the quarter. Evelyn Partners Asset Management Ltd’s holdings in CocaCola were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of CocaCola by 1.9% during the first quarter. Pinnacle Associates Ltd. now owns 192,345 shares of the company’s stock valued at $13,776,000 after acquiring an additional 3,581 shares during the period. Carnegie Investment Counsel raised its holdings in CocaCola by 11.7% during the first quarter. Carnegie Investment Counsel now owns 100,323 shares of the company’s stock worth $6,893,000 after purchasing an additional 10,499 shares in the last quarter. Finally, Journey Strategic Wealth LLC lifted its position in CocaCola by 8.6% in the first quarter. Journey Strategic Wealth LLC now owns 11,539 shares of the company’s stock worth $826,000 after purchasing an additional 918 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Up 2.5%

NYSE:KO opened at $72.96 on Friday. The company’s 50 day moving average is $68.39 and its 200-day moving average is $69.49. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market cap of $313.85 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Equities analysts anticipate 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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Insider Buying and Selling at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,252 shares of company stock worth $15,953,007 in the last ninety days. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research analyst reports. Bank of America lifted their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Piper Sandler boosted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company raised their price target 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, 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 research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

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.