Verity Asset Management Inc. Has $595,000 Holdings in CocaCola Company (The) $KO

Verity Asset Management Inc. reduced its stake in CocaCola Company (The) (NYSE:KO) by 46.5% in the 2nd quarter, Holdings Channel reports. The firm owned 8,415 shares of the company’s stock after selling 7,313 shares during the period. Verity Asset Management Inc.’s holdings in CocaCola were worth $595,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC lifted 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 acquiring an additional 285 shares during the last quarter. GFG Capital LLC acquired a new position in CocaCola during the 2nd quarter worth $34,000. Finally, MMA Asset Management LLC acquired a new position in CocaCola during the 2nd quarter worth $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of NYSE KO opened at $68.94 on Monday. The business has a fifty day simple moving average of $67.73 and a 200 day simple moving average of $69.65. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $296.56 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. UBS Group cut their target price 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. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. BNP Paribas reiterated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, TD Cowen upped their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report 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 company. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average price target of $78.31.

CocaCola 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.