Evelyn Partners Investment Management Europe Ltd Reduces Position in CocaCola Company (The) $KO

Evelyn Partners Investment Management Europe Ltd decreased its stake in shares of CocaCola Company (The) (NYSE:KO) by 34.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,503 shares of the company’s stock after selling 3,401 shares during the quarter. Evelyn Partners Investment Management Europe Ltd’s holdings in CocaCola were worth $460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CocaCola in the 2nd quarter worth approximately $22,443,000. Finally, Roundview Capital LLC raised its position in CocaCola by 9.1% during the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after buying an additional 2,923 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. TD Cowen upped their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Piper Sandler lifted their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Bank of America boosted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Trading Up 2.5%

Shares of CocaCola stock opened at $72.96 on Friday. The firm has a 50-day simple moving average of $68.39 and a two-hundred day simple moving average of $69.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market cap of $313.85 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. CocaCola’s payout ratio is 67.55%.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by corporate 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.