Strait & Sound Wealth Management LLC Sells 1,057 Shares of CocaCola Company (The) $KO

Strait & Sound Wealth Management LLC decreased its position in CocaCola Company (The) (NYSE:KO) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,217 shares of the company’s stock after selling 1,057 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in CocaCola were worth $369,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $69.74 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $69.74. The stock has a market cap of $300.13 billion, a P/E ratio of 23.09, a P/E/G ratio of 3.64 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company 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, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research 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. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat, CocaCola has an average rating of “Buy” and an average target price of $78.31.

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.