Telos Capital Management Inc. Lowers Stock Position in CocaCola Company (The) $KO

Telos Capital Management Inc. cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,502 shares of the company’s stock after selling 2,264 shares during the period. Telos Capital Management Inc.’s holdings in CocaCola were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Amundi grew its position in CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC purchased a new position in CocaCola in the 1st quarter valued at $1,508,657,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Wells Fargo & Company lifted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, UBS Group lowered their price objective on shares of 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 issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $78.31.

CocaCola Price Performance

Shares of NYSE KO opened at $68.01 on Tuesday. The firm has a market capitalization of $292.55 billion, a P/E ratio of 22.52, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company’s fifty day moving average is $67.72 and its two-hundred day moving average is $69.62. 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 (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given 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 presently 67.55%.

Insider Buying and Selling at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.97% of the company’s stock.

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.