CocaCola Company (The) $KO Holdings Cut by Sculati Wealth Management LLC

Sculati Wealth Management LLC reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 20.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,247 shares of the company’s stock after selling 1,121 shares during the period. Sculati Wealth Management LLC’s holdings in CocaCola were worth $300,000 as of its most recent SEC filing.

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

CocaCola Stock Up 0.1%

CocaCola stock opened at $71.13 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a fifty day moving average price of $68.01 and a two-hundred day moving average price of $69.51. The firm has a market cap of $305.98 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 3.57 and a beta of 0.43.

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

CocaCola Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s payout ratio is 67.55%.

Analysts Set New Price Targets

Several analysts have commented on KO shares. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. UBS Group decreased 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. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Bank of America boosted their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.43.

Insider Activity

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by company insiders.

CocaCola Company 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.