Convergence Investment Partners LLC Sells 282 Shares of CocaCola Company (The) $KO

Convergence Investment Partners LLC lowered its holdings in shares of CocaCola Company (The) (NYSE:KO) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,966 shares of the company’s stock after selling 282 shares during the period. Convergence Investment Partners LLC’s holdings in CocaCola were worth $351,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Perigon Wealth Management LLC grew its holdings in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CocaCola during the second quarter worth about $22,443,000. Banque Pictet & Cie SA grew its holdings in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after purchasing an additional 85,950 shares during the period. Finally, Roundview Capital LLC grew its holdings in CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after purchasing an additional 2,923 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other news, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. UBS Group reduced 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. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Piper Sandler boosted their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus price target of $78.31.

CocaCola Stock Up 0.5%

NYSE KO opened at $70.07 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a 50 day moving average of $67.83 and a 200-day moving average of $69.74. The company has a market cap of $301.43 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 3.64 and a beta of 0.43.

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

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

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.