CocaCola Company (The) $KO Stake Lessened by Stack Financial Management Inc

Key Points

• Stack Financial Management Inc reduced its stake in CocaCola Company by 1.8% in Q2, owning 322,265 shares valued at approximately $22.8 million.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, resulting in a 15.15% decrease in their ownership of the stock.
• CocaCola announced a quarterly dividend of $0.51 per share, representing a 3.0% yield with a payout ratio of 72.34%.

Stack Financial Management Inc lowered its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,265 shares of the company's stock after selling 5,894 shares during the period. CocaCola makes up 2.0% of Stack Financial Management Inc's portfolio, making the stock its 19th biggest position. Stack Financial Management Inc's holdings in CocaCola were worth $22,800,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related 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 transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company lowered their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to data from MarketBeat, CocaCola presently has an average rating of "Buy" and a consensus price target of $76.93.

CocaCola Trading Up 1.0%

Shares of NYSE:KO opened at $67.05 on Monday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43. The stock's 50-day moving average is $68.06 and its 200-day moving average is $69.84. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

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. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $11.40 billion for the quarter. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's dividend payout ratio (DPR) is 72.34%.

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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