Forum Financial Management LP Has $2.96 Million Position in CocaCola Company (The) $KO

Forum Financial Management LP cut its stake in CocaCola Company (The) (NYSE:KO) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,796 shares of the company’s stock after selling 2,982 shares during the quarter. Forum Financial Management LP’s holdings in CocaCola were worth $2,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KO. Nuveen LLC acquired a new position in shares of CocaCola in the first quarter worth $1,508,657,000. Wellington Management Group LLP boosted its holdings in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in CocaCola in the first quarter worth $642,183,000. Raymond James Financial Inc. boosted its holdings in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi boosted its holdings in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE:KO opened at $70.75 on Thursday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $67.81 and a 200 day moving average price of $69.70. The firm has a market capitalization of $304.47 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 3.71 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. The firm had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 45.63%. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.51 dividend. 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 payout ratio is currently 72.34%.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KO. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. TD Cowen upped their price objective on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $78.00.

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.