CocaCola Company (The) $KO Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its position in CocaCola Company (The) (NYSE:KO) by 2.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 150,441 shares of the company’s stock after selling 3,095 shares during the period. CocaCola makes up about 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 25th largest holding. Griffin Asset Management Inc.’s holdings in CocaCola were worth $10,644,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC acquired a new position in CocaCola in the 1st quarter valued at about $26,000. Garde Capital Inc. acquired a new position in CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company dropped their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One research 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, CocaCola presently has an average rating of “Buy” and an average price target of $76.93.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on 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 sale, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

CocaCola Stock Up 1.0%

KO opened at $67.05 on Monday. The firm has a 50 day moving average price of $68.06 and a 200 day moving average price of $69.84. The company has a market cap of $288.55 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio is 72.34%.

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.