Earned Wealth Advisors LLC Cuts Stake in CocaCola Company (The) $KO

Earned Wealth Advisors LLC decreased its stake in CocaCola Company (The) (NYSE:KO) by 25.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,289 shares of the company’s stock after selling 1,794 shares during the period. Earned Wealth Advisors LLC’s holdings in CocaCola were worth $374,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KO. IFG Advisory LLC lifted its position in CocaCola by 2.7% during the 2nd quarter. IFG Advisory LLC now owns 47,958 shares of the company’s stock worth $3,393,000 after acquiring an additional 1,239 shares in the last quarter. BLB&B Advisors LLC raised its stake in shares of CocaCola by 0.7% during the second quarter. BLB&B Advisors LLC now owns 46,836 shares of the company’s stock valued at $3,314,000 after purchasing an additional 316 shares during the period. UNIVEST FINANCIAL Corp lifted its position in shares of CocaCola by 47.1% during the second quarter. UNIVEST FINANCIAL Corp now owns 19,498 shares of the company’s stock worth $1,380,000 after purchasing an additional 6,242 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of CocaCola by 24.7% during the second quarter. Simon Quick Advisors LLC now owns 30,540 shares of the company’s stock worth $2,161,000 after purchasing an additional 6,058 shares in the last quarter. Finally, Ledyard National Bank boosted its stake in shares of CocaCola by 4.9% in the second quarter. Ledyard National Bank now owns 20,736 shares of the company’s stock valued at $1,467,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

KO opened at $69.02 on Friday. The company has a market capitalization of $296.88 billion, a P/E ratio of 22.85, a PEG ratio of 3.57 and a beta of 0.43. The company has a 50-day moving average of $67.76 and a 200-day moving average of $69.71. 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 Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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 return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Equities analysts expect that CocaCola Company will post 2.96 EPS 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Insider Activity at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction 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 sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. BNP Paribas restated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note 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 stock. According to data from MarketBeat, CocaCola currently has a consensus 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.