Brown Advisory Inc. Lowers Stake in CocaCola Company (The) $KO

Brown Advisory Inc. reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 752,505 shares of the company’s stock after selling 32,561 shares during the period. Brown Advisory Inc.’s holdings in CocaCola were worth $53,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Vanguard Group Inc. lifted its stake in CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after buying an additional 4,469 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of CocaCola by 5.0% in the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock worth $322,455,000 after buying an additional 216,752 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CocaCola in the 2nd quarter valued at about $22,443,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 225,252 shares of company stock worth $15,953,007 over the last quarter. Company insiders own 0.97% of the company’s stock.

CocaCola Trading Down 0.7%

NYSE:KO opened at $69.94 on Friday. The company has a 50-day moving average price of $69.49 and a 200-day moving average price of $69.56. The stock has a market cap of $300.85 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 3.91 and a beta of 0.39. 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 Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

CocaCola Dividend Announcement

The company 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 $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s dividend payout ratio is currently 67.55%.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of CocaCola in a report on Friday. Wells Fargo & Company upped 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. Finally, TD Cowen increased their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Company 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.