GPS Wealth Strategies Group LLC Decreases Position in CocaCola Company (The) $KO

GPS Wealth Strategies Group LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,834 shares of the company’s stock after selling 1,384 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in CocaCola were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. Brighton Jones LLC lifted its stake in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Penserra Capital Management LLC lifted its stake in CocaCola by 60.2% in the 1st quarter. Penserra Capital Management LLC now owns 16,335 shares of the company’s stock worth $1,169,000 after purchasing an additional 6,141 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in CocaCola by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,672,922 shares of the company’s stock worth $406,295,000 after purchasing an additional 642,620 shares in the last quarter. Finally, Callan Capital LLC lifted its stake in CocaCola by 16.1% in the 1st quarter. Callan Capital LLC now owns 10,154 shares of the company’s stock worth $727,000 after purchasing an additional 1,411 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction that occurred on 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 approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the acquisition, the director directly owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.90% of the company’s stock.

CocaCola Trading Up 1.1%

KO opened at $68.70 on Wednesday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market capitalization of $295.51 billion, a PE ratio of 22.75, a P/E/G ratio of 3.57 and a beta of 0.43. The business’s 50 day moving average price is $67.71 and its 200 day moving average price is $69.59. 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 released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. As a group, equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on KO shares. TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Piper Sandler raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $78.31.

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.