Valeo Financial Advisors LLC Reduces Stake in CocaCola Company (The) $KO

Valeo Financial Advisors LLC lessened its holdings in CocaCola Company (The) (NYSE:KO) by 17.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 100,696 shares of the company’s stock after selling 21,484 shares during the period. Valeo Financial Advisors LLC’s holdings in CocaCola were worth $7,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of CocaCola in the second quarter worth $3,846,270,000. Wellington Management Group LLP boosted 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 purchasing an additional 16,383,870 shares during the last quarter. Vanguard Group Inc. grew its position in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of CocaCola by 7,239.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after buying an additional 6,065,840 shares during the last quarter. Finally, Amundi raised its stake in shares of CocaCola by 16.0% during 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. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE:KO opened at $70.51 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock has a market capitalization of $303.29 billion, a PE ratio of 23.35, a P/E/G ratio of 3.92 and a beta of 0.39. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a fifty day moving average of $69.85 and a two-hundred day moving average of $69.47.

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

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued 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 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to data from MarketBeat, CocaCola presently has an average rating of “Buy” and an average target price of $79.08.

Insiders Place Their Bets

In other news, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was purchased 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. This trade represents a 102.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is owned by corporate insiders.

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.