Rathbones Group PLC Has $403.57 Million Stake in CocaCola Company (The) $KO

Rathbones Group PLC trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,704,221 shares of the company’s stock after selling 50,617 shares during the quarter. CocaCola comprises 1.7% of Rathbones Group PLC’s portfolio, making the stock its 10th largest position. Rathbones Group PLC’s holdings in CocaCola were worth $403,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its position in CocaCola by 3.4% in the 4th 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 last quarter. Cerity Partners LLC increased its stake in shares of CocaCola by 12.5% in the first quarter. Cerity Partners LLC now owns 1,037,937 shares of the company’s stock valued at $74,347,000 after purchasing an additional 114,942 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of CocaCola during the first quarter valued at approximately $206,000. Finally, IFC Advisors LLC boosted its position in shares of CocaCola by 21.6% during the first quarter. IFC Advisors LLC now owns 24,228 shares of the company’s stock worth $1,735,000 after buying an additional 4,302 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Piper Sandler lifted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One investment 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 company currently has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Stock Performance

Shares of NYSE KO opened at $70.61 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market cap of $303.75 billion, a P/E ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. The stock has a fifty day moving average price of $67.75 and a two-hundred day moving average price of $69.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

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

CocaCola Dividend Announcement

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 dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is 67.55%.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

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.