CocaCola Company (The) $KO Stake Lowered by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 355,415 shares of the company’s stock after selling 49,729 shares during the period. CocaCola makes up about 1.6% of Lmcg Investments LLC’s holdings, making the stock its 10th largest position. Lmcg Investments LLC’s holdings in CocaCola were worth $25,146,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Acima Private Wealth LLC boosted its position in shares of CocaCola by 199.9% during the 2nd quarter. Acima Private Wealth LLC now owns 9,132 shares of the company’s stock worth $646,000 after purchasing an additional 6,087 shares in the last quarter. First Fiduciary Investment Counsel Inc. boosted its position in shares of CocaCola by 1.1% during the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 176,397 shares of the company’s stock worth $12,480,000 after purchasing an additional 1,968 shares in the last quarter. PDS Planning Inc boosted its position in shares of CocaCola by 8.0% during the 2nd quarter. PDS Planning Inc now owns 64,591 shares of the company’s stock worth $4,570,000 after purchasing an additional 4,758 shares in the last quarter. JB Capital LLC boosted its position in shares of CocaCola by 3.7% during the 2nd quarter. JB Capital LLC now owns 12,935 shares of the company’s stock worth $915,000 after purchasing an additional 466 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its position in shares of CocaCola by 2.2% during the 2nd quarter. Thompson Investment Management Inc. now owns 34,795 shares of the company’s stock worth $2,462,000 after purchasing an additional 743 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Trading Up 1.0%

Shares of KO stock opened at $67.05 on Friday. The firm has a 50-day moving average price of $68.06 and a 200 day moving average price of $69.85. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.46 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

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

CocaCola Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have commented on KO shares. BNP Paribas restated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.93.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.

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.