Metis Global Partners LLC Cuts Stock Holdings in CocaCola Company (The) $KO

Metis Global Partners LLC reduced its stake in CocaCola Company (The) (NYSE:KO) by 9.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 203,242 shares of the company’s stock after selling 21,017 shares during the quarter. Metis Global Partners LLC’s holdings in CocaCola were worth $14,379,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of KO. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares during the last quarter. Alps Advisors Inc. boosted its position in CocaCola by 5.4% in the first quarter. Alps Advisors Inc. now owns 115,104 shares of the company’s stock worth $8,244,000 after purchasing an additional 5,904 shares during the last quarter. Phillips Financial Management LLC grew its stake in CocaCola by 6.7% in the 1st quarter. Phillips Financial Management LLC now owns 4,093 shares of the company’s stock valued at $293,000 after purchasing an additional 256 shares during the period. Finally, Cerity Partners LLC increased its position in shares of CocaCola by 12.5% during the 1st quarter. Cerity Partners LLC now owns 1,037,937 shares of the company’s stock valued at $74,347,000 after purchasing an additional 114,942 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, 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 SEC filing for this purchase provides additional information. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Performance

NYSE KO opened at $70.61 on Friday. The firm has a market cap of $303.75 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. 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 company’s 50 day moving average is $67.75 and its 200-day moving average is $69.56. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion during the quarter. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business 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 of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is 67.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KO. Wells Fargo & Company boosted 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. Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Evercore ISI reissued 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 given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.43.

About CocaCola

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.