Associated Banc Corp Sells 5,544 Shares of CocaCola Company (The) $KO

Associated Banc Corp lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 266,241 shares of the company’s stock after selling 5,544 shares during the quarter. Associated Banc Corp’s holdings in CocaCola were worth $18,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors 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 worth $26,000. Caitong International Asset Management Co. Ltd lifted its position in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted 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. MMA Asset Management LLC bought a new position in shares of CocaCola in the second quarter worth about $34,000. Finally, GFG Capital LLC acquired a new position in shares of CocaCola during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

NYSE:KO opened at $72.56 on Tuesday. 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 has a 50-day moving average of $68.52 and a 200-day moving average of $69.47. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market capitalization of $312.11 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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%. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. TD Cowen boosted their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Bank of America increased their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Transactions at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is owned by insiders.

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.