CocaCola Company (The) $KO Position Lessened by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its position in shares of CocaCola Company (The) (NYSE:KO) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,547 shares of the company’s stock after selling 1,064 shares during the period. Kovack Advisors Inc.’s holdings in CocaCola were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after buying an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP increased its holdings in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Amundi increased its holdings in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC acquired a new position in CocaCola in the first quarter worth approximately $1,508,657,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Max R. Levchin purchased 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.97% of the stock is owned by company insiders.

CocaCola Trading Up 1.0%

CocaCola stock opened at $69.02 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The business’s 50-day simple moving average is $67.76 and its 200-day simple moving average is $69.71. The firm has a market capitalization of $296.88 billion, a PE ratio of 22.85, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on KO shares. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Wells Fargo & Company boosted their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus price target of $78.31.

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.