Princeton Global Asset Management LLC Reduces Stake in CocaCola Company (The) $KO

Princeton Global Asset Management LLC lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,659 shares of the company’s stock after selling 2,713 shares during the period. Princeton Global Asset Management LLC’s holdings in CocaCola were worth $4,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after acquiring an additional 293 shares in the last quarter. GAMMA Investing LLC lifted its position in CocaCola by 19.0% in the first 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 last quarter. Advisor Resource Council acquired a new position in CocaCola in the first quarter valued at $798,000. Finally, Garde Capital Inc. purchased a new position in shares of CocaCola during the first quarter worth about $30,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’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 transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Finally, Wells Fargo & Company reduced their price target 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 investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola presently has a consensus rating of “Buy” and an average target price of $76.69.

CocaCola Trading Up 1.3%

Shares of KO stock opened at $68.45 on Monday. The company has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $67.84 and its two-hundred day moving average is $69.69. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

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

CocaCola Dividend Announcement

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 issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 72.34%.

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.