Verdence Capital Advisors LLC Lowers Holdings in CocaCola Company (The) $KO

Key Points

• Verdence Capital Advisors LLC reduced its shares in CocaCola Company by 10.6%, now holding 45,264 shares worth approximately $3.2 million.
• CocaCola's recent quarterly dividend of $0.51 reflects an annualized yield of 3.0%, with a payout ratio of 72.34%.
• Analysts have varying price targets for CocaCola, with JPMorgan Chase increasing their target to $79 and Wells Fargo decreasing it to $75, while the consensus price target stands at $76.93.

Verdence Capital Advisors LLC trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,264 shares of the company's stock after selling 5,384 shares during the period. Verdence Capital Advisors LLC's holdings in CocaCola were worth $3,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Sage Financial Management Group Inc. bought a new stake in CocaCola in the 1st quarter worth approximately $216,000. Perigon Wealth Management LLC grew its holdings in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 acquiring an additional 1,794,561 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after acquiring an additional 3,920 shares during the period. Finally, Roundview Capital LLC lifted its holdings in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock valued at $2,474,000 after acquiring an additional 2,923 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of NYSE:KO opened at $67.05 on Monday. The firm has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43. The firm has a fifty day moving average price of $68.06 and a 200 day moving average price of $69.84. 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.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 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%. As a group, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KO. JPMorgan Chase & Co. upped their price target 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. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report 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 report on Thursday, September 25th. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to MarketBeat, CocaCola currently has an average rating of "Buy" and a consensus price target of $76.93.

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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CocaCola Company (The) (NYSE:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.