FRG Family Wealth Advisors LLC Cuts Stake in CocaCola Company (The) $KO

FRG Family Wealth Advisors LLC lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 1.5% in the second quarter, Holdings Channel reports. The firm owned 47,017 shares of the company’s stock after selling 700 shares during the period. FRG Family Wealth Advisors LLC’s holdings in CocaCola were worth $3,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 1248 Management LLC purchased a new stake in shares of CocaCola during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of CocaCola during the second quarter worth about $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of CocaCola during the first quarter worth about $42,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $68.30 on Thursday. The firm has a 50 day simple moving average of $67.79 and a 200-day simple moving average of $69.71. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a market cap of $293.82 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share 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. On average, analysts expect that CocaCola Company will post 2.96 EPS for the current 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 paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio is 67.55%.

Insider Activity

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.31.

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.