CocaCola Company (The) $KO Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in CocaCola Company (The) (NYSE:KO) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,441 shares of the company’s stock after selling 3,095 shares during the quarter. CocaCola makes up about 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 25th biggest position. Griffin Asset Management Inc.’s holdings in CocaCola were worth $10,644,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KO. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the 1st quarter valued at $25,000. 1248 Management LLC acquired a new position in CocaCola in the 1st quarter valued at $26,000. Garde Capital Inc. acquired a new position in CocaCola in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. increased its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC increased its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated 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 in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

CocaCola Price Performance

CocaCola stock opened at $67.05 on Monday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm’s 50-day simple moving average is $68.06 and its 200 day simple moving average is $69.84. The firm has a market capitalization of $288.55 billion, a PE ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $11.40 billion for the quarter. On average, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is currently 72.34%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company dropped their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, 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 research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.93.

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.