Boston Research & Management Inc. Sells 1,242 Shares of CocaCola Company (The) $KO

Boston Research & Management Inc. cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,735 shares of the company’s stock after selling 1,242 shares during the quarter. Boston Research & Management Inc.’s holdings in CocaCola were worth $5,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. 1248 Management LLC bought a new stake in shares of CocaCola during the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its stake in CocaCola by 5,142.9% in the 2nd 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 in the last quarter. Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the period. GFG Capital LLC purchased a new position in shares of CocaCola in the second quarter valued at about $34,000. Finally, MMA Asset Management LLC purchased a new position in shares of CocaCola in the second quarter valued at about $34,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KO. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Bank of America lifted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Wells Fargo & Company boosted their price target on shares of CocaCola from $75.00 to $79.00 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 sixteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus target price of $78.43.

CocaCola Trading Up 2.5%

Shares of KO opened at $72.96 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company’s fifty day moving average is $68.39 and its 200 day moving average is $69.48. The stock has a market capitalization of $313.85 billion, a PE ratio of 24.16, a P/E/G ratio of 3.57 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. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share 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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insider Buying and Selling at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 225,252 shares of company stock valued at $15,953,007. Corporate insiders own 0.97% of the company’s stock.

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.