Curbstone Financial Management Corp lowered its position in CocaCola Company (The) (NYSE:KO – Free Report) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 25,196 shares of the company’s stock after selling 1,551 shares during the period. Curbstone Financial Management Corp’s holdings in CocaCola were worth $1,783,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. GAMMA Investing LLC lifted its position in shares of CocaCola by 19.0% during the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after acquiring an additional 13,261 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of CocaCola by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,151,849 shares of the company’s stock valued at $82,496,000 after acquiring an additional 57,315 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its position in shares of CocaCola by 2.7% during the 1st quarter. Premier Path Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $978,000 after acquiring an additional 358 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.
Insider Activity
In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.
CocaCola Stock Performance
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. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $11.40 billion during the quarter. 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 will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio is presently 72.34%.
Wall Street Analyst Weigh In
KO has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. 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. JPMorgan Chase & Co. boosted their target price 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, Wells Fargo & Company decreased their price target 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. 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, CocaCola presently has an average rating of “Buy” and an average target price of $76.69.
Read Our Latest Research Report on CocaCola
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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