Rhumbline Advisers Trims Position in CocaCola Company (The) $KO

Rhumbline Advisers lowered its holdings in CocaCola Company (The) (NYSE:KO) by 2.8% in the second quarter, Holdings Channel.com reports. The firm owned 7,210,006 shares of the company’s stock after selling 206,978 shares during the period. CocaCola accounts for 0.4% of Rhumbline Advisers’ investment portfolio, making the stock its 27th largest holding. Rhumbline Advisers’ holdings in CocaCola were worth $510,108,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KO. New Republic Capital LLC grew its holdings in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after buying an additional 139 shares during the period. Alteri Wealth LLC boosted its position in shares of CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after acquiring an additional 140 shares during the last quarter. Requisite Capital Management LLC grew its holdings in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares during the period. Paulson Wealth Management Inc. increased its position in CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock worth $479,000 after purchasing an additional 149 shares during the last quarter. Finally, Summitry LLC increased its position in CocaCola by 1.9% during the second quarter. Summitry LLC now owns 7,865 shares of the company’s stock worth $556,000 after purchasing an additional 149 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

KO stock opened at $72.96 on Friday. The firm has a market cap of $313.85 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a 50-day simple moving average of $68.39 and a 200-day simple moving average of $69.49.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Activity

In other CocaCola news, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,252 shares of company stock worth $15,953,007 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Bank of America lifted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, TD Cowen increased their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $78.43.

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.