Catalyst Capital Advisors LLC Cuts Stock Position in CocaCola Company (The) $KO

Key Points

• Catalyst Capital Advisors LLC cut its stake in CocaCola by 52.2%, reducing its holdings to 4,534 shares valued at approximately $321,000.
• Multiple institutional investors have increased their positions in CocaCola, with a notable boost from New Republic Capital LLC, which raised its stake by 1.6% in the first quarter.
• Analyst upgrades have raised CocaCola's target price, with TD Cowen and Wells Fargo both increasing their targets to $80.00 and $79.00, respectively.

Catalyst Capital Advisors LLC reduced its position in CocaCola Company (The) (NYSE:KO - Free Report) by 52.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,534 shares of the company's stock after selling 4,944 shares during the quarter. Catalyst Capital Advisors LLC's holdings in CocaCola were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. New Republic Capital LLC boosted its position in shares of CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after buying an additional 139 shares during the period. Alteri Wealth LLC boosted its position in shares of CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after buying an additional 140 shares during the period. Requisite Capital Management LLC boosted its position in shares of CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company's stock valued at $377,000 after buying an additional 142 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after buying an additional 143 shares during the period. Finally, MBA Advisors LLC boosted its position in shares of CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after buying an additional 143 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. TD Cowen boosted their target price on CocaCola from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on CocaCola from $75.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Cowen reaffirmed a "buy" rating on shares of CocaCola in a research note on Wednesday. One 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 presently has an average rating of "Buy" and an average price target of $78.31.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business'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 value of $2,584,063.60. Following the completion of 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 filing with the SEC, which is available at the SEC website. 0.97% of the stock is owned by company insiders.

CocaCola Stock Performance

CocaCola stock opened at $69.74 on Friday. The company has a 50 day moving average price of $67.81 and a 200-day moving average price of $69.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market capitalization of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

CocaCola 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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