Cerro Pacific Wealth Advisors LLC Reduces Position in CocaCola Company (The) $KO

Cerro Pacific Wealth Advisors LLC lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 10.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,989 shares of the company’s stock after selling 604 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in CocaCola were worth $353,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. New Republic Capital LLC boosted its position in shares of CocaCola by 1.6% during the first 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% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after buying an additional 140 shares during the period. Requisite Capital Management LLC boosted its position in shares of CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after buying an additional 142 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock valued at $1,439,000 after buying an additional 143 shares during the period. Finally, MBA Advisors LLC raised its stake in shares of CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group decreased their price target 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. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola Stock Performance

Shares of NYSE:KO opened at $67.05 on Friday. The firm has a 50 day moving average of $68.06 and a 200 day moving average of $69.85. The company has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola’s dividend payout ratio is presently 72.34%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

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.