Envestnet Portfolio Solutions Inc. Trims Stock Position in CocaCola Company (The) $KO

Envestnet Portfolio Solutions Inc. lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 266,871 shares of the company’s stock after selling 17,713 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CocaCola were worth $18,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the first quarter valued at approximately $25,000. 1248 Management LLC purchased a new stake in CocaCola in the 1st quarter valued at $26,000. Garde Capital Inc. purchased a new stake in CocaCola in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. boosted its stake in CocaCola by 360.0% during the 1st 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 grew its position in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KO shares. Wells Fargo & Company decreased their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $76.93.

CocaCola Trading Up 1.0%

Shares of KO opened at $67.05 on Monday. 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 Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The firm has a 50 day simple moving average of $68.06 and a 200-day simple moving average of $69.84.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion for the quarter. Equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend 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.