AE Wealth Management LLC Has $7.15 Million Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• AE Wealth Management LLC reduced its stake in CocaCola Company (NYSE:KO) by 13.0%, selling 14,899 shares and ending the first quarter with 99,764 shares valued at approximately $7,145,000.
• CocaCola recently announced a quarterly dividend of $0.51, expected to be paid on October 1st, with an annualized yield of 2.95%.
• Analysts have a consensus rating of "Buy" for CocaCola, with an average target price of $77.21, reflecting positive sentiment following recent earnings reports.

AE Wealth Management LLC lowered its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 13.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,764 shares of the company's stock after selling 14,899 shares during the period. AE Wealth Management LLC's holdings in CocaCola were worth $7,145,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in CocaCola in the 4th quarter valued at about $3,402,151,000. Northern Trust Corp grew its position in CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. grew its position in CocaCola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Capital International Investors lifted its holdings in CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in CocaCola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after acquiring an additional 3,791,300 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. 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. UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, CocaCola has an average rating of "Buy" and a consensus price target of $77.21.

CocaCola Stock Down 0.8%

Shares of NYSE KO traded down $0.58 during mid-day trading on Monday, reaching $68.59. The company had a trading volume of 3,999,516 shares, compared to its average volume of 17,276,010. The stock has a fifty day moving average of $70.64 and a two-hundred day moving average of $69.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market capitalization of $295.23 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 3.60 and a beta of 0.45. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, September 15th. 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.