CocaCola Company (The) $KO Shares Sold by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. cut its stake in CocaCola Company (The) (NYSE:KO) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,133 shares of the company’s stock after selling 952 shares during the quarter. CocaCola comprises approximately 1.5% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 19th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in CocaCola were worth $3,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Nuveen LLC acquired a new stake in shares of CocaCola during the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP increased its position in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new stake in shares of CocaCola during the 1st quarter worth about $642,183,000. Raymond James Financial Inc. increased its position in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Amundi increased its position in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $68.70 on Wednesday. The business has a 50-day moving average of $67.71 and a 200 day moving average of $69.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a market capitalization of $295.51 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last announced 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 during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. TD Cowen raised their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.