Cypress Capital Group Has $3.26 Million Position in CocaCola Company (The) $KO

Cypress Capital Group reduced its holdings in CocaCola Company (The) (NYSE:KO) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,116 shares of the company’s stock after selling 765 shares during the period. Cypress Capital Group’s holdings in CocaCola were worth $3,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Nuveen LLC acquired a new stake in CocaCola in the 1st quarter valued at $1,508,657,000. Wellington Management Group LLP grew its position in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Boston Partners bought a new position in shares of CocaCola in the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. grew its position in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after acquiring an additional 3,810,752 shares during the period. Finally, Amundi grew its position in shares of CocaCola by 16.0% in the 1st 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 during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of KO stock opened at $67.05 on Monday. The company has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a 50-day simple moving average of $68.06 and a 200 day simple moving average of $69.84. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were 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 was Monday, September 15th. CocaCola’s dividend payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average price target of $76.93.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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.