CocaCola Company (The) $KO Stock Position Trimmed by William Allan Corp

William Allan Corp cut its position in CocaCola Company (The) (NYSE:KO) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,635 shares of the company’s stock after selling 325 shares during the quarter. William Allan Corp’s holdings in CocaCola were worth $823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC bought a new stake in shares of CocaCola during the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of CocaCola during the 2nd quarter worth about $34,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In related 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 transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on KO. UBS Group dropped 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 restated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Piper Sandler lifted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.31.

CocaCola Stock Performance

CocaCola stock opened at $70.07 on Tuesday. The firm’s 50 day simple moving average is $67.83 and its 200-day simple moving average is $69.74. The company has a market cap of $301.43 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. 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 Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 67.55%.

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.