Sound View Wealth Advisors Group LLC Sells 3,584 Shares of CocaCola Company (The) $KO

Sound View Wealth Advisors Group LLC reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 114,682 shares of the company’s stock after selling 3,584 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in CocaCola were worth $8,114,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KO. Brighton Jones LLC raised its holdings in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC increased its position in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares in the last quarter. Cerity Partners LLC raised its stake in CocaCola by 12.5% during the 1st quarter. Cerity Partners LLC now owns 1,037,937 shares of the company’s stock worth $74,347,000 after buying an additional 114,942 shares during the period. Gateway Wealth Partners LLC bought a new position in CocaCola during the first quarter worth about $206,000. Finally, IFC Advisors LLC grew its stake in CocaCola by 21.6% in the first quarter. IFC Advisors LLC now owns 24,228 shares of the company’s stock valued at $1,735,000 after acquiring an additional 4,302 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In other news, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’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 transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. Bank of America raised their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Piper Sandler lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Price Performance

NYSE:KO opened at $70.61 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $303.75 billion, a P/E ratio of 23.38, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s 50-day simple moving average is $67.75 and its 200 day simple moving average is $69.53.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

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.