M.E. Allison & CO. Inc. Sells 4,053 Shares of CocaCola Company (The) $KO

Key Points

• M.E. Allison & CO. Inc. reduced its stake in CocaCola by 15.5%, selling 4,053 shares during the second quarter, leaving them with 22,047 shares valued at $1,560,000.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock, decreasing his position by 15.15% and retaining 209,513 shares valued at approximately $14.5 million.
• CocaCola recently declared a quarterly dividend of $0.51 per share, translating to an annualized yield of 3.0% with a payout ratio of 72.34%.

M.E. Allison & CO. Inc. lessened its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,047 shares of the company's stock after selling 4,053 shares during the period. CocaCola comprises about 1.3% of M.E. Allison & CO. Inc.'s portfolio, making the stock its 21st biggest position. M.E. Allison & CO. Inc.'s holdings in CocaCola were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC bought a new stake in shares of CocaCola during the 1st quarter valued at about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. 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 the firm's stock in a transaction dated 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 transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of KO opened at $67.05 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business's fifty day moving average is $68.06 and its 200 day moving average is $69.84. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock 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.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $11.40 billion for the quarter. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Wells Fargo & Company cut their target price 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 restated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has an average rating of "Buy" and an average price target of $76.93.

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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