Belpointe Asset Management LLC lowered its position in The Coca-Cola Co (NYSE:KO) by 20.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 13,109 shares of the company’s stock after selling 3,284 shares during the quarter. Belpointe Asset Management LLC’s holdings in The Coca-Cola were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KO. BlackRock Inc. raised its stake in shares of The Coca-Cola by 1.9% in the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after purchasing an additional 4,526,566 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of The Coca-Cola by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 74,749 shares of the company’s stock valued at $3,246,000 after purchasing an additional 1,361 shares in the last quarter. LGT Capital Partners LTD. raised its stake in shares of The Coca-Cola by 38.3% in the 2nd quarter. LGT Capital Partners LTD. now owns 452,990 shares of the company’s stock valued at $19,868,000 after purchasing an additional 125,540 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of The Coca-Cola by 12.4% in the 4th quarter. Valley National Advisers Inc. now owns 37,229 shares of the company’s stock valued at $1,708,000 after purchasing an additional 4,095 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in shares of The Coca-Cola by 42.5% in the 1st quarter. Forsta AP Fonden now owns 276,841 shares of the company’s stock valued at $12,023,000 after purchasing an additional 82,500 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

In other The Coca-Cola news, insider John Murphy sold 111,468 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total value of $5,178,803.28. Following the completion of the transaction, the insider now owns 196,337 shares in the company, valued at approximately $9,121,817.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kathy N. Waller sold 48,354 shares of the company’s stock in a transaction dated 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 owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,822 shares of company stock valued at $10,027,727. Insiders own 1.48% of the company’s stock.

Shares of NYSE:KO opened at $46.60 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.62. The stock has a market cap of $196.57 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.79.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. equities analysts expect that The Coca-Cola Co will post 2.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s dividend payout ratio is presently 81.68%.

KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a research note on Tuesday, July 17th. Royal Bank of Canada restated a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a research note on Monday, April 23rd. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday, May 18th. Finally, Citigroup restated a “buy” rating on shares of The Coca-Cola in a research note on Thursday, May 17th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.75.

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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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