Blume Capital Management Inc. Has $1.15 Million Stake in CocaCola Company (The) $KO

Blume Capital Management Inc. reduced its stake in CocaCola Company (The) (NYSE:KO) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,200 shares of the company’s stock after selling 640 shares during the period. Blume Capital Management Inc.’s holdings in CocaCola were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola during the 1st quarter valued at $25,000. 1248 Management LLC bought a new position in CocaCola in the first quarter valued at about $26,000. Ridgewood Investments LLC raised its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of CocaCola during the second quarter valued at about $34,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of CocaCola during the first quarter worth about $42,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company cut their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price of $77.23.

CocaCola Stock Performance

Shares of KO opened at $71.22 on Wednesday. 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 firm’s fifty day simple moving average is $67.80 and its two-hundred day simple moving average is $69.70. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a market capitalization of $306.51 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

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

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Insider Buying and Selling 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 completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.