Kellett Wealth Advisors LLC Reduces Stock Position in CocaCola Company (The) $KO

Kellett Wealth Advisors LLC lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,021 shares of the company’s stock after selling 330 shares during the period. Kellett Wealth Advisors LLC’s holdings in CocaCola were worth $284,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KO. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the 1st quarter valued at $25,000. 1248 Management LLC purchased a new stake in CocaCola during the 1st quarter valued at $26,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. BNP Paribas restated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.93.

CocaCola Stock Down 0.4%

Shares of CocaCola stock opened at $66.76 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company has a 50-day moving average of $68.01 and a 200 day moving average of $69.82. The firm has a market cap of $287.29 billion, a price-to-earnings ratio of 23.67, a PEG 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 issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction 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 trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% 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.