Meridian Management Co. Has $1.75 Million Stock Holdings in CocaCola Company (The) $KO

Meridian Management Co. cut its stake in CocaCola Company (The) (NYSE:KO) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,786 shares of the company’s stock after selling 4,135 shares during the period. Meridian Management Co.’s holdings in CocaCola were worth $1,751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CocaCola by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Amundi raised its holdings in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after buying an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of CocaCola during the 1st quarter worth $1,508,657,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $78.31.

CocaCola Price Performance

Shares of KO opened at $68.94 on Friday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business has a 50-day simple moving average of $67.73 and a two-hundred day simple moving average of $69.67. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $296.56 billion, a PE ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Analysts anticipate 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. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is presently 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.