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Mizuho Securities USA LLC Sells 57,439 Shares of CocaCola Company (The) (NYSE:KO)

CocaCola logo with Consumer Staples background

Key Points

  • Mizuho Securities USA LLC reduced its holdings in CocaCola by 15.6%, now owning 310,014 shares worth approximately $22.2 million.
  • CEO James Quincey sold 266,403 shares of CocaCola, resulting in a 49.12% reduction of his position, while the stock was sold at an average price of $72.06.
  • CocaCola's quarterly dividend of $0.51 per share will be paid on October 1st, representing a 2.9% annual yield for shareholders of record.
  • Want stock alerts on CocaCola? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mizuho Securities USA LLC decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 310,014 shares of the company's stock after selling 57,439 shares during the quarter. Mizuho Securities USA LLC's holdings in CocaCola were worth $22,203,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the 1st quarter worth about $25,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. raised 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 worth $33,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC raised 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 worth $34,000 after acquiring an additional 285 shares during the last quarter. Finally, Moser Wealth Advisors LLC raised its holdings in shares of CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

KO has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $77.21.

Get Our Latest Report on KO

Insider Activity at CocaCola

In related 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 completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Performance

Shares of CocaCola stock traded up $0.45 on Monday, reaching $70.79. 10,900,246 shares of the company traded hands, compared to its average volume of 14,680,218. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a 50 day moving average of $70.10 and a 200 day moving average of $70.01. The firm has a market capitalization of $304.66 billion, a PE ratio of 25.10, a PEG ratio of 3.66 and a beta of 0.44. 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 released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company's revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's dividend payout ratio (DPR) is 72.34%.

CocaCola Profile

(Free Report)

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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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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