Atria Wealth Solutions Inc. Trims Holdings in CocaCola Company (The) $KO

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in CocaCola by 52.1% during the second quarter, leaving it with 116,730 shares valued at approximately $8.3 million.
• Several hedge funds have adjusted their positions in CocaCola, with 70.26% of the stock now owned by institutional investors.
• The CocaCola Company recently announced a quarterly dividend of $0.51, reflecting an annualized yield of 3.0%.

Atria Wealth Solutions Inc. decreased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 52.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,730 shares of the company's stock after selling 127,047 shares during the period. Atria Wealth Solutions Inc.'s holdings in CocaCola were worth $8,319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sage Financial Management Group Inc. bought a new stake in CocaCola in the first quarter valued at $216,000. Perigon Wealth Management LLC raised its holdings in CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Finally, Roundview Capital LLC increased its position in shares of CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock valued at $2,474,000 after buying an additional 2,923 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on KO shares. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Wells Fargo & Company lowered their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and an average price target of $76.93.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 sale, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of NYSE KO opened at $67.05 on Monday. The firm has a market cap of $288.55 billion, a P/E ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a 50 day moving average of $68.06 and a 200 day moving average of $69.84.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $11.40 billion during the quarter. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's payout ratio is 72.34%.

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.

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