Novare Capital Management LLC Lowers Stake in CocaCola Company (The) $KO

Key Points

• Novare Capital Management LLC reduced its stake in Coca-Cola Company by 19.0%, selling 3,815 shares and leaving them with a total of 16,231 shares valued at around $1,148,000.
• Coca-Cola declared a $0.51 quarterly dividend to be paid on December 15th, representing an annualized yield of 3.0%.
• Analysts have mixed views, with UBS Group lowering their price target from $84.00 to $80.00, while BNP Paribas maintains an outperform rating with a price target of $83.00.

Novare Capital Management LLC lowered its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,231 shares of the company's stock after selling 3,815 shares during the quarter. Novare Capital Management LLC's holdings in CocaCola were worth $1,148,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KO. Sage Financial Management Group Inc. purchased a new position in shares of CocaCola in the first quarter worth $216,000. Perigon Wealth Management LLC raised its stake in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares in the last quarter. Roundview Capital LLC raised its stake in CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock valued at $2,474,000 after purchasing an additional 2,923 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its stake in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock valued at $14,461,000 after purchasing an additional 85,950 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 1.3%

KO stock opened at $68.45 on Friday. The company has a market capitalization of $294.60 billion, a PE ratio of 24.27, a P/E/G ratio of 3.52 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm's 50-day moving average is $67.84 and its 200 day moving average is $69.73. 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 posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company 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, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KO shares. 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. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. 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. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. One 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, the company presently has an average rating of "Buy" and a consensus price target of $76.69.

Insider Buying and Selling

In other CocaCola 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company's stock.

CocaCola Company 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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