Freestone Capital Holdings LLC Sells 16,810 Shares of CocaCola Company (The) $KO

Freestone Capital Holdings LLC lessened its holdings in CocaCola Company (The) (NYSE:KO) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,603 shares of the company’s stock after selling 16,810 shares during the quarter. Freestone Capital Holdings LLC’s holdings in CocaCola were worth $5,986,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KO. Brighton Jones LLC lifted its holdings in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after acquiring an additional 293 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of CocaCola by 21.0% in the first quarter. Golden State Wealth Management LLC now owns 4,154 shares of the company’s stock valued at $298,000 after buying an additional 720 shares during the period. Silver Oak Securities Incorporated increased its stake in shares of CocaCola by 6.2% in the first quarter. Silver Oak Securities Incorporated now owns 10,826 shares of the company’s stock valued at $762,000 after buying an additional 630 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in CocaCola by 12.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,610 shares of the company’s stock valued at $259,000 after acquiring an additional 400 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE:KO opened at $68.94 on Monday. The stock has a market capitalization of $296.56 billion, a P/E ratio of 22.83, a P/E/G ratio of 3.57 and a beta of 0.43. The stock has a 50-day moving average price of $67.73 and a 200 day moving average price of $69.65. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Announces Dividend

The business also recently declared 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 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of CocaCola stock in a transaction that occurred on 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 transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on KO. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. TD Cowen raised their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $78.31.

About CocaCola

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.