Valeo Financial Advisors LLC Lowers Stock Holdings in CocaCola Company (The) $KO

Valeo Financial Advisors LLC cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,696 shares of the company’s stock after selling 21,484 shares during the quarter. Valeo Financial Advisors LLC’s holdings in CocaCola were worth $7,124,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in CocaCola during the 2nd quarter worth $3,846,270,000. Wellington Management Group LLP grew its position in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of CocaCola by 7,239.2% in the second quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after acquiring an additional 6,065,840 shares in the last quarter. Finally, Amundi lifted its stake in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. 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 research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Piper Sandler upped their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Bank of America increased their target price on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $79.08.

CocaCola Price Performance

NYSE KO opened at $70.51 on Monday. The firm’s fifty day simple moving average is $69.85 and its two-hundred day simple moving average is $69.47. The firm has a market capitalization of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.92 and a beta of 0.39. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion during the quarter. Analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Insider Activity

In related news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is owned by company insiders.

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.