Jefferies Financial Group Inc. Sells 149,965 Shares of CocaCola Company (The) $KO

Jefferies Financial Group Inc. trimmed its position in CocaCola Company (The) (NYSE:KO) by 84.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,649 shares of the company’s stock after selling 149,965 shares during the period. Jefferies Financial Group Inc.’s holdings in CocaCola were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC acquired a new stake in CocaCola in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. GFG Capital LLC acquired a new stake in CocaCola in the 2nd quarter worth approximately $34,000. MMA Asset Management LLC purchased a new stake in CocaCola during the 2nd quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in CocaCola during the 1st quarter worth approximately $42,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

NYSE:KO opened at $72.58 on Wednesday. The firm’s fifty day moving average is $68.65 and its two-hundred day moving average is $69.48. The firm has a market cap of $312.20 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.57 and a beta of 0.43. 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 one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share 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. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. CocaCola’s payout ratio is presently 67.55%.

Insiders Place Their Bets

In related news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 225,252 shares of company stock worth $15,953,007. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KO. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. TD Cowen upped their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.43.

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.