AssuredPartners Investment Advisors LLC Sells 2,778 Shares of CocaCola Company (The) $KO

AssuredPartners Investment Advisors LLC cut its holdings in CocaCola Company (The) (NYSE:KO) by 38.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,491 shares of the company’s stock after selling 2,778 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in CocaCola were worth $318,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the 1st quarter worth approximately $25,000. 1248 Management LLC acquired a new stake in shares of CocaCola in the 1st quarter valued at approximately $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC raised its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $68.45 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a 50-day simple moving average of $67.84 and a 200 day simple moving average of $69.73. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $294.60 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.52 and a beta of 0.43.

CocaCola (NYSE:KO) last posted 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 business had revenue of $11.40 billion during the quarter. On average, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued 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 is Monday, December 1st. CocaCola’s dividend payout ratio is presently 72.34%.

Analysts Set New Price Targets

Several research analysts have weighed in on KO shares. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company reduced their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $76.69.

Insider Buying and Selling

In other CocaCola 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by company 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.