Mill Capital Management LLC Has $2.52 Million Position in CocaCola Company (The) $KO

Mill Capital Management LLC reduced its holdings in CocaCola Company (The) (NYSE:KO) by 1.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 35,679 shares of the company’s stock after selling 654 shares during the quarter. Mill Capital Management LLC’s holdings in CocaCola were worth $2,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of CocaCola during the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP raised its stake in shares of CocaCola by 52.7% during the 1st 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 in the last quarter. Boston Partners bought a new stake in shares of CocaCola during the 1st quarter worth approximately $642,183,000. Raymond James Financial Inc. raised its stake in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi raised its stake in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of NYSE:KO opened at $68.94 on Friday. The company’s 50 day moving average price is $67.73 and its two-hundred day moving average price is $69.68. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $296.56 billion, a PE ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion for the quarter. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, CocaCola has an average rating of “Buy” and a consensus target price of $78.31.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.97% of the company’s stock.

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.