Nisa Investment Advisors LLC Sells 11,929 Shares of CocaCola Company (The) $KO

Nisa Investment Advisors LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,023,646 shares of the company’s stock after selling 11,929 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CocaCola were worth $72,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KO. Brighton Jones LLC grew its stake in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. GAMMA Investing LLC boosted its holdings in CocaCola by 19.0% during the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after acquiring an additional 13,261 shares during the period. Transcend Capital Advisors LLC grew its position in CocaCola by 5.0% during the 1st quarter. Transcend Capital Advisors LLC now owns 32,875 shares of the company’s stock worth $2,354,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Centerline Wealth Advisors LLC purchased a new position in CocaCola in the 1st quarter worth approximately $258,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’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 completion of the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Performance

CocaCola stock opened at $69.74 on Friday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $300.13 billion, a P/E ratio of 23.09, a PEG ratio of 3.64 and a beta of 0.43. The stock’s 50 day moving average is $67.81 and its 200 day moving average is $69.74.

CocaCola (NYSE:KO) last announced 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 for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $78.31.

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.