Rehmann Capital Advisory Group Cuts Holdings in The Coca-Cola Co (KO)
Rehmann Capital Advisory Group lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 5.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 26,970 shares of the company’s stock after selling 1,431 shares during the quarter. Rehmann Capital Advisory Group’s holdings in The Coca-Cola were worth $1,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Clarus Wealth Advisors acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $101,000. WP Advisors LLC acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $107,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $116,000. Fort L.P. acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $122,000. Finally, BDO Wealth Advisors LLC raised its position in shares of The Coca-Cola by 104.9% during the 2nd quarter. BDO Wealth Advisors LLC now owns 3,163 shares of the company’s stock worth $139,000 after purchasing an additional 1,619 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Shares of KO stock opened at $46.58 on Monday. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $48.62. The company has a market capitalization of $198.71 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is currently 81.68%.
A number of analysts have recently weighed in on KO shares. Macquarie set a $47.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Friday, September 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Thursday, July 26th. Morgan Stanley set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, September 4th. Jefferies Financial Group reiterated a “hold” rating and set a $48.00 price target on shares of The Coca-Cola in a research report on Friday, August 31st. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $52.00 price target on shares of The Coca-Cola in a research report on Wednesday, September 5th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.31.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the transaction, the vice president now directly owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Murphy sold 56,000 shares of the stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total value of $2,602,880.00. Following the transaction, the insider now directly owns 140,869 shares of the company’s stock, valued at $6,547,591.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,822 shares of company stock valued at $10,027,727. 1.48% of the stock is currently owned by corporate insiders.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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