Telos Capital Management Inc. Lowers Stock Position in CocaCola Company (The) $KO

Telos Capital Management Inc. lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 14.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,502 shares of the company’s stock after selling 2,264 shares during the quarter. Telos Capital Management Inc.’s holdings in CocaCola were worth $955,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in KO. 1248 Management LLC acquired a new stake in shares of CocaCola during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of CocaCola during the second quarter worth about $34,000. Finally, MMA Asset Management LLC acquired a new stake in shares of CocaCola during the second quarter worth about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $68.01 on Tuesday. The firm has a market capitalization of $292.55 billion, a P/E ratio of 22.52, a P/E/G ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week 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’s 50 day moving average is $67.72 and its two-hundred day moving average is $69.62.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company 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%. Research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KO. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.31.

Insider Activity at CocaCola

In related news, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The purchase was disclosed in a legal filing 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 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.97% of the company’s stock.

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.