CocaCola Company (The) $KO Shares Sold by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC lowered its holdings in CocaCola Company (The) (NYSE:KO) by 14.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,784 shares of the company’s stock after selling 2,724 shares during the quarter. Castlekeep Investment Advisors LLC’s holdings in CocaCola were worth $1,187,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KO. Brighton Jones LLC lifted its holdings 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 period. Revolve Wealth Partners LLC lifted its holdings 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 period. Golden State Wealth Management LLC raised its stake in shares of CocaCola by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,154 shares of the company’s stock worth $298,000 after buying an additional 720 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in shares of CocaCola by 6.2% during the 1st quarter. Silver Oak Securities Incorporated now owns 10,826 shares of the company’s stock worth $762,000 after buying an additional 630 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of CocaCola by 12.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,610 shares of the company’s stock worth $259,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’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 transaction, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Down 0.1%

Shares of KO stock opened at $68.94 on Friday. The firm has a 50-day moving average price of $67.73 and a 200 day moving average price of $69.67. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market capitalization of $296.56 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

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 firm had revenue of $11.40 billion during the quarter. Research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KO shares. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Finally, TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $78.31.

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.