Los Angeles Capital Management LLC Sells 488,301 Shares of CocaCola Company (The) $KO

Los Angeles Capital Management LLC reduced its holdings in CocaCola Company (The) (NYSE:KO) by 89.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,652 shares of the company’s stock after selling 488,301 shares during the period. Los Angeles Capital Management LLC’s holdings in CocaCola were worth $3,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KO. Prospera Financial Services Inc lifted its stake in shares of CocaCola by 25.8% in the 2nd quarter. Prospera Financial Services Inc now owns 117,690 shares of the company’s stock valued at $8,329,000 after purchasing an additional 24,160 shares during the period. AGF Management Ltd. increased its holdings in CocaCola by 257.4% in the second quarter. AGF Management Ltd. now owns 279,732 shares of the company’s stock valued at $19,791,000 after purchasing an additional 201,457 shares during the last quarter. Bensler LLC lifted its stake in CocaCola by 7.6% in the second quarter. Bensler LLC now owns 3,839 shares of the company’s stock valued at $272,000 after buying an additional 271 shares during the period. AE Wealth Management LLC boosted its holdings in CocaCola by 24.2% during the second quarter. AE Wealth Management LLC now owns 123,924 shares of the company’s stock worth $8,768,000 after buying an additional 24,160 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of CocaCola during the 2nd quarter worth about $214,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Up 0.0%

Shares of KO stock opened at $70.57 on Tuesday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average of $67.78 and a 200-day moving average of $69.49. The company has a market capitalization of $303.56 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 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%. As a group, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Activity at CocaCola

In other news, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on KO shares. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average target price of $78.43.

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.