Prosperity Financial Group Inc. Sells 354 Shares of CocaCola Company (The) $KO

Prosperity Financial Group Inc. decreased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 8.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,809 shares of the company’s stock after selling 354 shares during the quarter. Prosperity Financial Group Inc.’s holdings in CocaCola were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KO. Brighton Jones LLC grew its stake in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after buying an additional 13,261 shares during the last quarter. Consolidated Portfolio Review Corp grew its stake in shares of CocaCola by 3.1% during the first quarter. Consolidated Portfolio Review Corp now owns 5,480 shares of the company’s stock valued at $392,000 after buying an additional 166 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its stake in shares of CocaCola by 4.5% during the first quarter. YHB Investment Advisors Inc. now owns 14,309 shares of the company’s stock valued at $1,025,000 after buying an additional 610 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Down 0.7%

CocaCola stock opened at $70.75 on Thursday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The business has a fifty day moving average of $67.81 and a two-hundred day moving average of $69.70. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a market cap of $304.47 billion, a P/E ratio of 23.43, a P/E/G ratio of 3.71 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 45.63% and a net margin of 27.34%.The firm had revenue of $11.40 billion during the quarter. On average, analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

KO has been the topic of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average target price of $78.00.

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.