Main Street Research LLC Has $256,000 Holdings in CocaCola Company (The) $KO

Main Street Research LLC decreased its holdings in CocaCola Company (The) (NYSE:KO) by 24.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,597 shares of the company’s stock after selling 1,151 shares during the quarter. Main Street Research LLC’s holdings in CocaCola were worth $256,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in KO. Brighton Jones LLC raised its stake in shares of CocaCola by 13.3% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of CocaCola by 60.2% in the 1st quarter. Penserra Capital Management LLC now owns 16,335 shares of the company’s stock valued at $1,169,000 after buying an additional 6,141 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of CocaCola by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,672,922 shares of the company’s stock valued at $406,295,000 after buying an additional 642,620 shares in the last quarter. Finally, Callan Capital LLC raised its stake in shares of CocaCola by 16.1% in the 1st quarter. Callan Capital LLC now owns 10,154 shares of the company’s stock valued at $727,000 after buying an additional 1,411 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on KO shares. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One 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 company currently has an average rating of “Buy” and an average price target of $78.31.

CocaCola Stock Up 1.1%

Shares of NYSE:KO opened at $68.70 on Wednesday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company’s 50-day moving average price is $67.71 and its two-hundred day moving average price is $69.59. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a market cap of $295.51 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data 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 firm had revenue of $11.40 billion for the quarter. As a group, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed 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 yield of 3.0%. CocaCola’s dividend payout ratio is currently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.90% of the stock is owned by corporate insiders.

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.