Carrera Capital Advisors Sells 43,087 Shares of CocaCola Company (The) $KO

Key Points

• Carrera Capital Advisors sold 43,087 shares of CocaCola, reducing its holdings by 84.5% in the second quarter, leaving them with 7,899 shares valued at $563,000.
• CocaCola recently declared a quarterly dividend of $0.51 per share, with the payment scheduled for December 15th, resulting in an annualized yield of 2.9%.
• Analysts have a consensus target price of $78.31 for CocaCola, with several institutions reaffirming buy ratings and price objectives ranging from $76.00 to $79.00.

Carrera Capital Advisors cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 84.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,899 shares of the company's stock after selling 43,087 shares during the period. Carrera Capital Advisors' holdings in CocaCola were worth $563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the first quarter worth about $25,000. 1248 Management LLC bought a new stake in shares of CocaCola during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company's stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of CocaCola during the second quarter worth about $34,000. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Down 0.3%

KO opened at $69.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $300.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.66 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's 50-day moving average price is $67.81 and its two-hundred day moving average price is $69.73.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola's dividend payout ratio is presently 67.55%.

Analyst Ratings Changes

Several equities research analysts have recently commented on KO shares. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of CocaCola in a research report on Wednesday. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research report on Thursday. Evercore ISI reaffirmed an "outperform" rating on shares of CocaCola in a research report on Tuesday. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $78.31.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company's 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 sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.

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