Migdal Insurance & Financial Holdings Ltd. Sells 470 Shares of CocaCola Company (The) $KO

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 10.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,953 shares of the company’s stock after selling 470 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in CocaCola were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quaker Wealth Management LLC grew its stake in shares of CocaCola by 204.5% in the second quarter. Quaker Wealth Management LLC now owns 1,842 shares of the company’s stock worth $130,000 after purchasing an additional 3,604 shares during the last quarter. Bank of Jackson Hole Trust grew its stake in shares of CocaCola by 24.8% in the second quarter. Bank of Jackson Hole Trust now owns 1,662 shares of the company’s stock worth $118,000 after purchasing an additional 330 shares during the last quarter. Jennison Associates LLC grew its stake in shares of CocaCola by 52.8% in the second quarter. Jennison Associates LLC now owns 109,854 shares of the company’s stock worth $7,772,000 after purchasing an additional 37,973 shares during the last quarter. Winebrenner Capital Management LLC grew its stake in shares of CocaCola by 1.4% in the second quarter. Winebrenner Capital Management LLC now owns 19,911 shares of the company’s stock worth $1,409,000 after purchasing an additional 276 shares during the last quarter. Finally, Biltmore Family Office LLC grew its stake in shares of CocaCola by 30.2% in the second quarter. Biltmore Family Office LLC now owns 26,441 shares of the company’s stock worth $1,884,000 after purchasing an additional 6,130 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. 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 CocaCola stock in a transaction on Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, 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. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on KO shares. Wells Fargo & Company boosted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. BNP Paribas restated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Finally, Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola has an average rating of “Buy” and an average target price of $78.31.

CocaCola Price Performance

Shares of NYSE KO opened at $68.30 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average price is $67.79 and its 200-day moving average price is $69.71. The firm has a market capitalization of $293.82 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.66 and a beta of 0.43. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

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.