Foster & Motley Inc. Lowers Stock Holdings in CocaCola Company (The) $KO

Foster & Motley Inc. decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 22.2% during the second quarter, HoldingsChannel reports. The firm owned 4,177 shares of the company’s stock after selling 1,190 shares during the period. Foster & Motley Inc.’s holdings in CocaCola were worth $296,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $26,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the first quarter worth about $30,000. Ridgewood Investments LLC increased its holdings in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the period. Finally, GFG Capital LLC purchased a new position in shares of CocaCola in the second quarter worth about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 1.3%

NYSE KO opened at $68.45 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market capitalization of $294.60 billion, a PE ratio of 24.27, a PEG 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 business’s 50-day moving average is $67.84 and its 200 day moving average is $69.69.

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 company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KO. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $76.69.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

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.