CocaCola Company (The) $KO Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB has reduced its stake in CocaCola by 3.6%, now holding 187,123 shares valued at approximately $13.24 million.
• CocaCola recently declared a quarterly dividend of $0.51, resulting in an annualized dividend yield of 3.1%.
• The stock has experienced a range over the past year, with a low of $60.62 and a high of $74.38, opening at $66.76 on Tuesday.

Wilmington Savings Fund Society FSB cut its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,123 shares of the company's stock after selling 7,084 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in CocaCola were worth $13,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Morningstar Investment Management LLC acquired a new stake in shares of CocaCola in the 2nd quarter worth $639,000. RFG Advisory LLC increased its position in shares of CocaCola by 4.2% during the 2nd quarter. RFG Advisory LLC now owns 74,400 shares of the company's stock worth $5,264,000 after purchasing an additional 2,966 shares during the last quarter. Perfromance Wealth Partners LLC increased its position in shares of CocaCola by 123.3% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 12,113 shares of the company's stock worth $857,000 after purchasing an additional 6,689 shares during the last quarter. Moran Wealth Management LLC increased its position in shares of CocaCola by 13.5% during the 2nd quarter. Moran Wealth Management LLC now owns 73,247 shares of the company's stock worth $5,182,000 after purchasing an additional 8,693 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of CocaCola by 3.5% during the 2nd quarter. Revolve Wealth Partners LLC now owns 9,087 shares of the company's stock worth $643,000 after purchasing an additional 305 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of CocaCola stock opened at $66.76 on Tuesday. The business has a 50-day moving average of $68.01 and a 200 day moving average of $69.82. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a market capitalization of $287.29 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, Wells Fargo & Company lowered their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was 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 in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% 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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