CocaCola Company (The) $KO Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 6.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 266,871 shares of the company’s stock after selling 17,713 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CocaCola were worth $18,881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Sage Financial Management Group Inc. acquired a new stake in shares of CocaCola during the 1st quarter worth $216,000. Perigon Wealth Management LLC lifted its stake in shares of CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after purchasing an additional 3,920 shares during the period. Finally, Roundview Capital LLC raised its holdings in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after buying an additional 2,923 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents 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. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. UBS Group decreased their target price on 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 reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $76.93.

CocaCola Price Performance

Shares of NYSE:KO opened at $67.05 on Monday. The company has a market cap of $288.55 billion, a PE ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a 50-day simple moving average of $68.06 and a 200 day simple moving average of $69.84. 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 (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion during the quarter. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders 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 dividend payout ratio is currently 72.34%.

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.