CocaCola Company (The) $KO Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,907 shares of the company’s stock after selling 1,432 shares during the period. Linscomb Wealth Inc.’s holdings in CocaCola were worth $1,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in CocaCola in the first quarter valued at approximately $1,508,657,000. Wellington Management Group LLP lifted its holdings in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new position in CocaCola in the first quarter valued at approximately $642,183,000. Raymond James Financial Inc. lifted its holdings in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after acquiring an additional 3,810,752 shares during the last quarter. Finally, Amundi lifted its holdings in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Down 0.1%

Shares of NYSE KO opened at $68.94 on Friday. The firm has a market cap of $296.56 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The business’s 50 day moving average is $67.73 and its two-hundred day moving average is $69.68.

CocaCola (NYSE:KO) last announced 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 for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus price target of $78.31.

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.