Mill Capital Management LLC Sells 654 Shares of CocaCola Company (The) $KO

Mill Capital Management LLC decreased its stake in CocaCola Company (The) (NYSE:KO) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,679 shares of the company’s stock after selling 654 shares during the period. Mill Capital Management LLC’s holdings in CocaCola were worth $2,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 1248 Management LLC acquired a new stake in CocaCola in the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. Ridgewood Investments LLC grew its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares in the last quarter. GFG Capital LLC acquired a new stake in CocaCola during the second quarter worth about $34,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in CocaCola during the first quarter valued at about $42,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. TD Cowen boosted their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. UBS Group lowered their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $78.31.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 value of $2,584,063.60. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

CocaCola Stock Down 0.1%

Shares of NYSE KO opened at $68.94 on Friday. 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 cap of $296.56 billion, a PE ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The business has a fifty day moving average of $67.73 and a two-hundred day moving average of $69.68.

CocaCola (NYSE:KO) last issued 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 net margin of 27.34% and a return on equity of 43.62%. As a group, equities research analysts expect 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

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.