Wealth Alliance LLC Sells 4,047 Shares of CocaCola Company (The) $KO

Wealth Alliance LLC lowered its holdings in shares of CocaCola Company (The) (NYSE:KO) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,584 shares of the company’s stock after selling 4,047 shares during the quarter. Wealth Alliance LLC’s holdings in CocaCola were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of CocaCola in the first quarter worth about $1,508,657,000. Wellington Management Group LLP increased its position in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Boston Partners purchased a new position in shares of CocaCola during the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. lifted its position 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 valued at $848,315,000 after buying an additional 3,810,752 shares in the last quarter. Finally, Amundi raised its holdings in shares of CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. BNP Paribas restated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Finally, Piper Sandler upped 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 analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Stock Down 0.4%

Shares of CocaCola stock traded down $0.30 during trading on Thursday, hitting $71.21. 901,844 shares of the stock traded hands, compared to its average volume of 16,689,059. The company has a fifty day moving average price of $67.89 and a two-hundred day moving average price of $69.50. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $306.33 billion, a P/E ratio of 23.60, a PEG ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share 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. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given 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 payout ratio is presently 67.55%.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by corporate insiders.

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.