Dnca Finance Lowers Stake in CocaCola Company (The) $KO

Dnca Finance cut its holdings in CocaCola Company (The) (NYSE:KO) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,000 shares of the company’s stock after selling 32,482 shares during the quarter. Dnca Finance’s holdings in CocaCola were worth $8,844,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in CocaCola during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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. GFG Capital LLC acquired a new stake in shares of CocaCola during the second quarter worth $34,000. MMA Asset Management LLC purchased a new position in CocaCola in the 2nd quarter valued at $34,000. Finally, Winnow Wealth LLC purchased a new position in CocaCola in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

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

CocaCola Trading Down 0.7%

Shares of CocaCola stock opened at $69.94 on Friday. The company has a 50-day moving average of $69.49 and a two-hundred day moving average of $69.54. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market cap of $300.85 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal 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 paid 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 of this dividend is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. UBS Group restated a “buy” rating on shares of CocaCola in a research report on Friday. Wells Fargo & Company lifted their price objective 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 note on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $78.43.

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.