O Brien Greene & Co. Inc Reduces Holdings in CocaCola Company (The) $KO

O Brien Greene & Co. Inc lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 23,208 shares of the company’s stock after selling 1,250 shares during the quarter. O Brien Greene & Co. Inc’s holdings in CocaCola were worth $1,642,000 as of its most recent filing with the SEC.

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

CocaCola Stock Up 0.8%

Shares of NYSE KO opened at $69.04 on Friday. The stock has a fifty day moving average price of $67.72 and a 200 day moving average price of $69.58. The company has a market cap of $296.97 billion, a P/E ratio of 22.86, a P/E/G ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

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

CocaCola Announces Dividend

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 issued a dividend of $0.51 per share. 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 (DPR) is currently 67.55%.

Insider Activity

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KO shares. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. UBS Group reduced their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company upped their target price on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler raised their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $78.31.

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.