CocaCola Company (The) $KO Holdings Lowered by Modera Wealth Management LLC

Modera Wealth Management LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,204 shares of the company’s stock after selling 1,038 shares during the period. Modera Wealth Management LLC’s holdings in CocaCola were worth $12,537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in shares of CocaCola during the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its holdings in 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 acquiring an additional 360 shares during the period. Ridgewood Investments LLC raised its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares in the last quarter. MMA Asset Management LLC acquired a new stake in CocaCola in the 2nd quarter valued at about $34,000. Finally, GFG Capital LLC bought a new position in shares of CocaCola during the 2nd quarter valued at about $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Max R. Levchin bought 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Wells Fargo & Company boosted their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus target price of $78.31.

CocaCola Trading Up 0.8%

NYSE:KO opened at $69.04 on Friday. The stock has a market cap of $296.97 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock’s 50-day moving average is $67.72 and its two-hundred day moving average is $69.58.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS 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. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is currently 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.