Spreng Capital Management Inc. Cuts Stock Holdings in CocaCola Company (The) $KO

Spreng Capital Management Inc. trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,126 shares of the company’s stock after selling 520 shares during the period. Spreng Capital Management Inc.’s holdings in CocaCola were worth $716,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KO. Brighton Jones LLC boosted its position in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock worth $5,961,000 after purchasing an additional 13,261 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CocaCola by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,151,849 shares of the company’s stock worth $82,496,000 after purchasing an additional 57,315 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its holdings in shares of CocaCola by 2.7% during the first quarter. Premier Path Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $978,000 after purchasing an additional 358 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Wells Fargo & Company dropped their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus price target of $76.69.

CocaCola Stock Performance

Shares of KO opened at $68.45 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a 50-day simple moving average of $67.84 and a two-hundred day simple moving average of $69.73. The firm has a market capitalization of $294.60 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 3.52 and a beta of 0.43.

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

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 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.