CocaCola Company (The) $KO Position Cut by Ramsay Stattman Vela & Price Inc.

Key Points

• Ramsay Stattman Vela & Price Inc. has reduced its stake in CocaCola by 5.3%, resulting in ownership of 142,075 shares valued at approximately $10.05 million.
• CocaCola recently received various ratings increases, with JPMorgan Chase raising its price target from $77 to $79, indicating a positive outlook from analysts.
• The company declared a quarterly dividend of $0.51 per share, which will be paid on December 15, representing an annualized dividend yield of 2.9%.

Ramsay Stattman Vela & Price Inc. trimmed its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 142,075 shares of the company's stock after selling 7,990 shares during the quarter. CocaCola makes up about 1.9% of Ramsay Stattman Vela & Price Inc.'s investment portfolio, making the stock its 20th largest holding. Ramsay Stattman Vela & Price Inc.'s holdings in CocaCola were worth $10,052,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC lifted its stake 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 buying an additional 4,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CocaCola during the second quarter valued at about $22,443,000. Roundview Capital LLC raised its stake 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 purchasing an additional 2,923 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its stake in shares of CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock valued at $14,461,000 after purchasing an additional 85,950 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KO. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. 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 note on Thursday, September 11th. Finally, BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $78.31.

CocaCola Stock Down 0.3%

Shares of CocaCola stock opened at $69.74 on Friday. The firm has a market cap of $300.13 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a 50-day simple moving average of $67.81 and a 200-day simple moving average of $69.73.

CocaCola (NYSE:KO - Get Free Report) last announced 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 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. On average, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm 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. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio is currently 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.

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