Kovack Advisors Inc. Sells 1,064 Shares of CocaCola Company (The) $KO

Kovack Advisors Inc. reduced its stake in CocaCola Company (The) (NYSE:KO) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 26,547 shares of the company’s stock after selling 1,064 shares during the quarter. Kovack Advisors Inc.’s holdings in CocaCola were worth $1,878,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. 1248 Management LLC acquired a new position in CocaCola during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its stake in CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its stake in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares in the last quarter. GFG Capital LLC acquired a new position in CocaCola during the second quarter worth $34,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in CocaCola during the first quarter worth $42,000. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was 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. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is owned by corporate insiders.

CocaCola Price Performance

CocaCola stock opened at $69.02 on Friday. The business’s 50-day simple moving average is $67.76 and its 200 day simple moving average is $69.71. The stock has a market cap of $296.88 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 3.57 and a beta of 0.43. 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 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently declared 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. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KO. TD Cowen increased their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus target price of $78.31.

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.