CocaCola Company (The) $KO Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 7.0% in the 2nd quarter, Holdings Channel reports. The firm owned 51,000 shares of the company’s stock after selling 3,813 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in CocaCola were worth $3,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in CocaCola during the first quarter valued at approximately $25,000. 1248 Management LLC acquired a new stake in CocaCola during the first quarter valued at approximately $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in shares of CocaCola by 148.4% during the first 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 period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction 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 transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. UBS Group cut their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $76.69.

CocaCola Trading Up 1.3%

Shares of NYSE:KO opened at $68.45 on Friday. The firm has a fifty day moving average of $67.84 and a two-hundred day moving average of $69.72. The firm has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company 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%. On average, equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio is 72.34%.

CocaCola Company 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.