CocaCola Company (The) $KO Holdings Lowered by Marco Investment Management LLC

Marco Investment Management LLC reduced its stake in CocaCola Company (The) (NYSE:KO) by 2.0% in the second quarter, HoldingsChannel reports. The fund owned 260,933 shares of the company’s stock after selling 5,314 shares during the quarter. CocaCola makes up 1.5% of Marco Investment Management LLC’s holdings, making the stock its 20th largest holding. Marco Investment Management LLC’s holdings in CocaCola were worth $18,461,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KO. New Republic Capital LLC lifted its position in CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC raised its stake in shares of CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after buying an additional 140 shares in the last quarter. Requisite Capital Management LLC lifted its holdings in shares of CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after buying an additional 142 shares during the period. MTM Investment Management LLC boosted its stake in CocaCola by 0.3% during the first quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock valued at $3,637,000 after buying an additional 144 shares in the last quarter. Finally, SNS Financial Group LLC grew its holdings in CocaCola by 2.4% during the first quarter. SNS Financial Group LLC now owns 6,315 shares of the company’s stock worth $455,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target 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. JPMorgan Chase & Co. boosted 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. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Wells Fargo & Company lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $78.43.

Insiders Place Their Bets

In other news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

CocaCola Price Performance

KO opened at $70.61 on Friday. The stock has a fifty day moving average of $67.75 and a 200-day moving average of $69.56. The firm has a market capitalization of $303.75 billion, a P/E ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The company 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 analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced 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 is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

CocaCola Profile

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.