Portfolio Design Labs LLC Cuts Holdings in CocaCola Company (The) $KO

Portfolio Design Labs LLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 46.8% in the second quarter, HoldingsChannel reports. The firm owned 18,790 shares of the company’s stock after selling 16,527 shares during the quarter. Portfolio Design Labs LLC’s holdings in CocaCola were worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of KO. Van Hulzen Asset Management LLC boosted its stake in shares of CocaCola by 5.4% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 208,302 shares of the company’s stock worth $14,737,000 after buying an additional 10,652 shares during the last quarter. Claret Asset Management Corp lifted its holdings in CocaCola by 0.9% during the second quarter. Claret Asset Management Corp now owns 21,737 shares of the company’s stock worth $1,538,000 after acquiring an additional 204 shares during the period. Panagora Asset Management Inc. boosted its position in CocaCola by 429.8% in the second quarter. Panagora Asset Management Inc. now owns 1,274,156 shares of the company’s stock worth $90,147,000 after purchasing an additional 1,033,674 shares during the last quarter. Smith Moore & CO. grew its stake in CocaCola by 1.9% in the 2nd quarter. Smith Moore & CO. now owns 34,021 shares of the company’s stock valued at $2,407,000 after purchasing an additional 639 shares during the period. Finally, Bare Financial Services Inc increased its position in shares of CocaCola by 48.6% during the 2nd quarter. Bare Financial Services Inc now owns 654 shares of the company’s stock valued at $46,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

NYSE KO opened at $71.96 on Tuesday. The firm has a market cap of $309.56 billion, a P/E ratio of 23.83, 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 $69.15 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 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company 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 declared 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 annualized dividend and a dividend yield of 2.8%. CocaCola’s payout ratio is 67.55%.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Piper Sandler boosted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Wells Fargo & Company lifted 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. Finally, Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

Insider Activity at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 in the last 90 days. 0.97% of the stock is owned by company insiders.

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.