Russell Investments Group Ltd. Sells 174,479 Shares of CocaCola Company (The) $KO

Russell Investments Group Ltd. cut its position in shares of CocaCola Company (The) (NYSE:KO) by 7.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,236,803 shares of the company’s stock after selling 174,479 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of CocaCola worth $158,162,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of CocaCola in the first quarter valued at approximately $1,508,657,000. Wellington Management Group LLP increased its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Boston Partners bought a new stake in CocaCola during the 1st quarter worth about $642,183,000. Vanguard Group Inc. lifted its position in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after buying an additional 6,241,163 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of CocaCola by 7,239.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock worth $435,086,000 after buying an additional 6,065,840 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Down 0.0%

Shares of CocaCola stock opened at $72.58 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The business has a fifty day simple moving average of $68.65 and a two-hundred day simple moving average of $69.48. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a market capitalization of $312.20 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 3.57 and a beta of 0.43.

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

CocaCola Announces Dividend

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 2.8%. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Activity at CocaCola

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 completion of the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 225,252 shares of company stock valued at $15,953,007 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KO. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. TD Cowen boosted 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. Bank of America increased their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Piper Sandler raised their target price 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. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and an average target price 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.