Conning Inc. Sells 20,476 Shares of CocaCola Company (The) $KO

Conning Inc. reduced its holdings in CocaCola Company (The) (NYSE:KO) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 494,491 shares of the company’s stock after selling 20,476 shares during the quarter. Conning Inc.’s holdings in CocaCola were worth $34,985,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KO. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter worth approximately $25,000. 1248 Management LLC bought a new stake in CocaCola in the first quarter worth approximately $26,000. Garde Capital Inc. bought a new stake in CocaCola in the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its holdings in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC increased its holdings in shares of 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 in the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 1.0%

KO stock opened at $67.05 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock’s fifty day simple moving average is $68.06 and its two-hundred day simple moving average is $69.85. The stock has a market cap of $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion during the quarter. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company decreased their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $76.93.

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.