Gables Capital Management Inc. Cuts Stock Holdings in CocaCola Company (The) $KO

Gables Capital Management Inc. lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,061 shares of the company’s stock after selling 1,501 shares during the period. CocaCola makes up approximately 1.4% of Gables Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Gables Capital Management Inc.’s holdings in CocaCola were worth $3,047,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP raised its stake in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. 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 worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi increased its position in shares of CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of CocaCola in the first quarter worth $1,508,657,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on 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 directly 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 link. 0.90% of the stock is owned by company insiders.

CocaCola Price Performance

KO opened at $71.22 on Wednesday. The company has a fifty day simple moving average of $67.80 and a 200 day simple moving average of $69.70. The firm has a market cap of $306.51 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share 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. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is 72.34%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KO. UBS Group dropped 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. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. 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. Finally, Wells Fargo & Company dropped 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 equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average target price of $77.23.

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.