Roberts Glore & Co. Inc. IL Cuts Position in CocaCola Company (The) $KO

Roberts Glore & Co. Inc. IL lessened its holdings in CocaCola Company (The) (NYSE:KO) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,500 shares of the company’s stock after selling 1,718 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in CocaCola were worth $1,450,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of CocaCola during the 1st quarter valued at approximately $1,508,657,000. Wellington Management Group LLP increased its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the period. Boston Partners bought a new stake in shares of CocaCola during the first quarter valued at approximately $642,183,000. Raymond James Financial Inc. raised its position in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi raised its holdings in shares of CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

Shares of CocaCola stock opened at $70.61 on Friday. The business has a 50 day simple moving average of $67.75 and a two-hundred day simple moving average of $69.53. 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 capitalization of $303.75 billion, a P/E ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. As a group, analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on KO shares. Piper Sandler upped their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company boosted 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. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.43.

Insider Transactions at CocaCola

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 stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Max R. Levchin purchased 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, with a total value of $503,483.22. Following the acquisition, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.97% of the stock is currently 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.