Advisors Asset Management Inc. Sells 28,251 Shares of CocaCola Company (The) $KO

Advisors Asset Management Inc. decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,342 shares of the company’s stock after selling 28,251 shares during the quarter. CocaCola accounts for approximately 0.5% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. Advisors Asset Management Inc.’s holdings in CocaCola were worth $30,234,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KO. 1248 Management LLC bought a new position in CocaCola in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter valued at $34,000. Finally, MMA Asset Management LLC acquired a new position in shares of CocaCola during the 2nd quarter worth $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. UBS Group reduced their price objective 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 lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Bank of America upped their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Stock Down 0.5%

Shares of NYSE:KO opened at $72.56 on Tuesday. The firm has a market cap of $312.11 billion, a P/E ratio of 24.03, 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 business has a fifty day simple moving average of $68.52 and a 200 day simple moving average of $69.47. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. CocaCola’s payout ratio is 67.55%.

Insider Transactions at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 225,252 shares of company stock worth $15,953,007. Company 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.