Verdence Capital Advisors LLC Sells 5,384 Shares of CocaCola Company (The) $KO

Verdence Capital Advisors LLC decreased its holdings in CocaCola Company (The) (NYSE:KO) by 10.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,264 shares of the company’s stock after selling 5,384 shares during the period. Verdence Capital Advisors LLC’s holdings in CocaCola were worth $3,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of CocaCola by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 334,695 shares of the company’s stock valued at $23,680,000 after purchasing an additional 2,000 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in shares of CocaCola by 1.8% during the second quarter. Astoria Portfolio Advisors LLC. now owns 17,656 shares of the company’s stock valued at $1,220,000 after acquiring an additional 312 shares in the last quarter. Concord Asset Management LLC VA raised its position in shares of CocaCola by 5.6% in the 2nd quarter. Concord Asset Management LLC VA now owns 61,457 shares of the company’s stock valued at $4,348,000 after purchasing an additional 3,250 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its stake in CocaCola by 31.7% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,507 shares of the company’s stock worth $319,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Lion Street Advisors LLC grew its position in CocaCola by 3.0% during the 2nd quarter. Lion Street Advisors LLC now owns 13,229 shares of the company’s stock worth $936,000 after purchasing an additional 389 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Price Performance

NYSE:KO opened at $67.05 on Monday. The firm’s fifty day moving average is $68.06 and its two-hundred day moving average is $69.84. The firm has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KO shares. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.93.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

About CocaCola

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.