CocaCola Company (The) $KO Stock Holdings Decreased by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors LLC has decreased its stake in CocaCola Company by 7.0%, now holding 51,000 shares worth approximately $3.6 million.
• CocaCola recently announced a quarterly dividend of $0.51, with an annualized yield of 3.0%, set to be paid on December 15th.
• The company's current stock price is $68.45, with a market capitalization of $294.6 billion and a P/E ratio of 24.27.

Forvis Mazars Wealth Advisors LLC lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 51,000 shares of the company's stock after selling 3,813 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in CocaCola were worth $3,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the 1st quarter valued at about $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC boosted its holdings in shares of CocaCola by 148.4% in the 1st 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 period. Institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 1.3%

CocaCola stock opened at $68.45 on Friday. The firm has a 50-day moving average price of $67.84 and a two-hundred day moving average price of $69.72. The firm has a market capitalization of $294.60 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business 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%. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company reduced their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Finally, UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, CocaCola currently has an average rating of "Buy" and a consensus target price of $76.69.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the 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 directly owned 209,513 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by company insiders.

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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