CocaCola Company (The) $KO Shares Sold by Birmingham Capital Management Co. Inc. AL

Key Points

• Birmingham Capital Management Co. Inc. AL reduced its stake in Coca-Cola by 15.8%, now holding 62,239 shares, valued at approximately $4.4 million.
• Insider Nikolaos Koumettis sold 37,396 shares of Coca-Cola, representing a 15.15% decrease in their ownership.
• Analysts maintain a consensus rating of "Buy" for Coca-Cola, with an average target price of $76.69.

Birmingham Capital Management Co. Inc. AL trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 15.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,239 shares of the company's stock after selling 11,650 shares during the period. CocaCola comprises approximately 1.9% of Birmingham Capital Management Co. Inc. AL's holdings, making the stock its 16th largest holding. Birmingham Capital Management Co. Inc. AL's holdings in CocaCola were worth $4,403,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola in the 1st quarter worth about $25,000. 1248 Management LLC acquired a new position in CocaCola in the first quarter worth about $26,000. Garde Capital Inc. bought a new stake in CocaCola in the first quarter valued at about $30,000. Ridgewood Investments LLC increased its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after buying an additional 285 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in CocaCola during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

KO has been the subject of several research reports. Wells Fargo & Company decreased their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $76.69.

CocaCola Price Performance

Shares of KO opened at $68.45 on Monday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a fifty day moving average price of $67.84 and a 200 day moving average price of $69.69. The company has a market cap of $294.60 billion, a P/E ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43.

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. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. On average, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's 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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