Welch & Forbes LLC Has $20.74 Million Stock Position in CocaCola Company (The) $KO

Welch & Forbes LLC reduced its position in CocaCola Company (The) (NYSE:KO) by 1.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 293,130 shares of the company’s stock after selling 2,884 shares during the period. Welch & Forbes LLC’s holdings in CocaCola were worth $20,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of CocaCola in the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CocaCola by 5,142.9% in the 2nd 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 during the last quarter. Ridgewood Investments LLC boosted its position in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth $34,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of CocaCola in the 1st quarter worth $42,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of CocaCola stock opened at $68.94 on Friday. The firm has a market cap of $296.56 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The stock’s 50-day moving average is $67.73 and its 200-day moving average is $69.67. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

CocaCola (NYSE:KO) last issued 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 return on equity of 43.62% and a net margin of 27.34%. Equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. UBS Group reduced their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Wells Fargo & Company lifted their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler lifted 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. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, CocaCola currently has an average rating of “Buy” and an average target price of $78.31.

Insider Activity

In other news, 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 value of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The SEC filing for this sale provides additional information. 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.