Drucker Wealth 3.0 LLC Sells 4,364 Shares of CocaCola Company (The) $KO

Key Points

• Drucker Wealth 3.0 LLC reduced its stake in CocaCola by 8.4%, selling 4,364 shares during the second quarter, leaving it with 47,549 shares valued at approximately $3.3 million.
• The company recently announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.0% and a payout ratio of 72.34%.
• CocaCola's shares opened at $67.05, with a 52-week low of $60.62 and a high of $74.38, and the company holds a significant market capitalization of $288.55 billion.

Drucker Wealth 3.0 LLC cut its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,549 shares of the company's stock after selling 4,364 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in CocaCola were worth $3,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of CocaCola during the first quarter worth approximately $1,508,657,000. Wellington Management Group LLP raised its stake in shares of CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new position in shares of CocaCola during the first quarter worth approximately $642,183,000. Raymond James Financial Inc. raised its stake in shares of CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after acquiring an additional 3,810,752 shares in the last quarter. Finally, Amundi raised its stake in shares of CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company's stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 1.0%

Shares of NYSE KO opened at $67.05 on Friday. 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 Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm's fifty day moving average is $68.06 and its 200 day moving average is $69.85. The company has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued 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 for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. On average, equities research 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 was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company decreased their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to MarketBeat, CocaCola currently has a consensus rating of "Buy" and a consensus target price of $76.93.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% 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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