Mutual of America Capital Management LLC Sells 6,033 Shares of CocaCola Company (The) $KO

Key Points

• Mutual of America Capital Management LLC has reduced its holdings in CocaCola Company by 1.3%, selling 6,033 shares and now owning 443,567 shares worth approximately $31.4 million.
• CocaCola has received mixed analyst ratings, with price targets ranging from $75.00 to $84.00, reflecting a consensus "Buy" rating.
• The company recently declared a quarterly dividend of $0.51 per share, with a dividend yield of 3.0%, payable on December 15th to shareholders of record on December 1st.

Mutual of America Capital Management LLC cut its position in CocaCola Company (The) (NYSE:KO - Free Report) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,567 shares of the company's stock after selling 6,033 shares during the quarter. Mutual of America Capital Management LLC's holdings in CocaCola were worth $31,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the first quarter valued at $25,000. 1248 Management LLC bought a new position in CocaCola during the first quarter worth $26,000. Garde Capital Inc. bought a new position in CocaCola during the first quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. Finally, Ridgewood Investments LLC boosted its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on KO. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of "Buy" and an average price target of $76.69.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was 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 owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Up 1.3%

KO opened at $68.45 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 $294.60 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.57 and a beta of 0.43. The stock has a fifty day moving average of $67.84 and a 200-day moving average of $69.72.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion during the quarter. On average, equities 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 Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio 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.

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