CocaCola Company (The) $KO Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 5.7% in the second quarter, HoldingsChannel.com reports. The firm owned 23,907 shares of the company’s stock after selling 1,432 shares during the quarter. Linscomb Wealth Inc.’s holdings in CocaCola were worth $1,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KO. 1248 Management LLC acquired a new position in shares of CocaCola during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of CocaCola by 5,142.9% during the second 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 in the last quarter. Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% during the first 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. GFG Capital LLC acquired a new position in shares of CocaCola during the second quarter worth $34,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of CocaCola during the first quarter worth $42,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $78.31.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the 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 transaction, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

Shares of KO opened at $68.94 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market capitalization 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 firm has a 50-day simple moving average of $67.73 and a 200-day simple moving average of $69.68. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

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

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio 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.