Norden Group LLC Sells 9,244 Shares of CocaCola Company (The) $KO

Norden Group LLC decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 18.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 41,671 shares of the company’s stock after selling 9,244 shares during the period. Norden Group LLC’s holdings in CocaCola were worth $2,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. 1248 Management LLC purchased a new stake in CocaCola in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CocaCola in the 2nd quarter worth about $26,000. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth about $34,000. Finally, MMA Asset Management LLC purchased a new position in CocaCola during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. 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, October 22nd. Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $79.08.

Insider Activity

In related news, COO Henrique Braun sold 40,390 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the transaction, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,252 shares of company stock valued at $15,953,007 over the last three months. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of KO opened at $69.99 on Thursday. The company has a market cap of $301.07 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 3.88 and a beta of 0.39. The business’s fifty day simple moving average is $70.43 and its two-hundred day simple moving average is $69.42. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. 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 declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

About CocaCola

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.