Shelton Capital Management Reduces Position in CocaCola Company (The) $KO

Shelton Capital Management trimmed its stake in CocaCola Company (The) (NYSE:KO) by 49.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,430 shares of the company’s stock after selling 227,886 shares during the period. Shelton Capital Management’s holdings in CocaCola were worth $16,586,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KO. 1248 Management LLC purchased a new stake in CocaCola in the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. MMA Asset Management LLC bought a new position in shares of CocaCola in the 2nd quarter valued at about $34,000. Finally, Winnow Wealth LLC bought a new stake in shares of CocaCola in the 2nd quarter valued at approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on KO shares. Wells Fargo & Company boosted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $78.43.

Insider Activity

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Max R. Levchin purchased 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, with a total value of $503,483.22. Following the acquisition, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 225,252 shares of company stock worth $15,953,007 over the last quarter. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of NYSE:KO opened at $73.14 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $314.62 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The firm has a 50 day moving average of $69.03 and a 200 day moving average of $69.56. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.8%. CocaCola’s dividend payout ratio (DPR) is presently 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.