Axxcess Wealth Management LLC Cuts Holdings in CocaCola Company (The) $KO

Axxcess Wealth Management LLC cut its position in shares of CocaCola Company (The) (NYSE:KO) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,991 shares of the company’s stock after selling 1,391 shares during the quarter. Axxcess Wealth Management LLC’s holdings in CocaCola were worth $9,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. GAMMA Investing LLC boosted its stake in CocaCola by 19.0% in the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after acquiring an additional 13,261 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in CocaCola by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,151,849 shares of the company’s stock valued at $82,496,000 after acquiring an additional 57,315 shares during the last quarter. Finally, Tcfg Wealth Management LLC purchased a new position in CocaCola in the first quarter valued at about $204,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on KO shares. Wells Fargo & Company dropped their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $76.93.

CocaCola Stock Performance

CocaCola stock opened at $66.76 on Tuesday. The firm’s 50 day simple moving average is $68.01 and its 200 day simple moving average is $69.82. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $287.29 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

CocaCola 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.