Beech Hill Advisors Inc. Cuts Position in CocaCola Company (The) $KO

Key Points

• Beech Hill Advisors Inc. has reduced its stake in CocaCola by 17.8%, bringing its total shares to 38,895, valued at $2,752,000.
• Insider Nikolas Koumettis sold 37,396 shares of CocaCola stock for about $2.58 million, resulting in a 15.15% decrease in his ownership.
• CocaCola recently declared a quarterly dividend of $0.51 per share, translating to an annualized yield of 3.0% and a payout ratio of 72.34%.

Beech Hill Advisors Inc. decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 17.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,895 shares of the company's stock after selling 8,407 shares during the period. Beech Hill Advisors Inc.'s holdings in CocaCola were worth $2,752,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sage Financial Management Group Inc. bought a new position in CocaCola during the 1st quarter valued at approximately $216,000. Perigon Wealth Management LLC boosted its holdings in CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after acquiring an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CocaCola in the 2nd quarter worth about $22,443,000. Finally, Roundview Capital LLC boosted its stake in shares of CocaCola by 9.1% during the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock valued at $2,474,000 after purchasing an additional 2,923 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on 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 transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

KO has been the subject of several analyst reports. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. UBS Group cut their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $76.69.

CocaCola Trading Up 0.1%

NYSE:KO opened at $68.52 on Tuesday. The company has a market cap of $294.90 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a 50 day simple moving average of $67.79 and a two-hundred day simple moving average of $69.69. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion for the quarter. Research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently declared 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 3.0%. CocaCola's dividend payout ratio is presently 72.34%.

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.

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