CocaCola Company (The) $KO Shares Sold by Zullo Investment Group Inc.

Zullo Investment Group Inc. lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 48.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 9,772 shares of the company’s stock after selling 9,142 shares during the period. Zullo Investment Group Inc.’s holdings in CocaCola were worth $691,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. acquired a new position in CocaCola during the first quarter worth approximately $216,000. Perigon Wealth Management LLC increased its position in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after buying an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CocaCola by 6.2% in the first 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 purchasing an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after purchasing an additional 3,920 shares during the period. Finally, Roundview Capital LLC increased its holdings in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after purchasing an additional 2,923 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Up 1.0%

Shares of KO stock opened at $67.05 on Friday. The business’s fifty day moving average price is $68.06 and its 200 day moving average price is $69.85. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $288.55 billion, a PE ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s payout ratio is presently 72.34%.

Analyst Ratings Changes

KO has been the topic of a number of recent research reports. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Wells Fargo & Company dropped their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

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.