Tobam Decreases Holdings in CocaCola Company (The) $KO

Tobam trimmed its position in CocaCola Company (The) (NYSE:KO) by 85.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376 shares of the company’s stock after selling 2,286 shares during the period. Tobam’s holdings in CocaCola were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. 1248 Management LLC purchased a new stake in CocaCola in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC purchased a new stake in CocaCola during the 2nd quarter worth approximately $34,000. Finally, MMA Asset Management LLC acquired a new position in CocaCola during the 2nd quarter valued at approximately $34,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of NYSE:KO opened at $71.57 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $307.87 billion, a PE ratio of 23.70, a P/E/G ratio of 3.57 and a beta of 0.43. The business’s 50 day moving average price is $67.89 and its 200-day moving average price is $69.50.

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

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KO. TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Piper Sandler lifted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $78.43.

Insider Transactions at CocaCola

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by corporate 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.