Conning Inc. Has $34.99 Million Stock Position in CocaCola Company (The) $KO

Conning Inc. reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 494,491 shares of the company’s stock after selling 20,476 shares during the quarter. Conning Inc.’s holdings in CocaCola were worth $34,985,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the first quarter valued at about $25,000. 1248 Management LLC acquired a new stake in CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new stake in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its stake in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its stake in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Price Performance

CocaCola stock opened at $67.05 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $288.55 billion, a PE ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a 50-day moving average price of $68.06 and a two-hundred day moving average price of $69.85.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Analyst Ratings Changes

KO has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $76.93.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.