Wedbush Securities Inc. Sells 5,938 Shares of CocaCola Company (The) $KO

Wedbush Securities Inc. cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,614 shares of the company’s stock after selling 5,938 shares during the period. Wedbush Securities Inc.’s holdings in CocaCola were worth $7,118,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Chancellor Financial Group WB LP boosted its position in shares of CocaCola by 21.8% during the second quarter. Chancellor Financial Group WB LP now owns 15,222 shares of the company’s stock valued at $1,077,000 after buying an additional 2,723 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in CocaCola by 379.3% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 51,151 shares of the company’s stock worth $3,619,000 after acquiring an additional 40,480 shares during the last quarter. Aspect Partners LLC grew its stake in shares of CocaCola by 3.3% in the 2nd quarter. Aspect Partners LLC now owns 5,334 shares of the company’s stock worth $377,000 after acquiring an additional 171 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of CocaCola by 5.1% in the second quarter. Sterling Capital Management LLC now owns 161,667 shares of the company’s stock valued at $11,438,000 after purchasing an additional 7,793 shares during the last quarter. Finally, Nvwm LLC lifted its position in shares of CocaCola by 44.5% during the second quarter. Nvwm LLC now owns 1,198 shares of the company’s stock valued at $85,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Up 2.2%

CocaCola stock opened at $70.61 on Friday. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $303.75 billion, a P/E ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. The firm’s fifty day moving average price is $67.75 and its 200-day moving average price is $69.56.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared 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 yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Transactions at CocaCola

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

Analyst Ratings Changes

Several equities research analysts have commented on KO shares. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $78.43.

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.