Reik & CO. LLC Sells 37,734 Shares of CocaCola Company (The) $KO

Reik & CO. LLC decreased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 33.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,783 shares of the company’s stock after selling 37,734 shares during the quarter. CocaCola makes up 1.3% of Reik & CO. LLC’s holdings, making the stock its 10th biggest position. Reik & CO. LLC’s holdings in CocaCola were worth $5,362,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, Director Max R. Levchin acquired 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, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

KO opened at $70.61 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market cap of $303.75 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The business’s fifty day moving average is $67.75 and its 200-day moving average is $69.53.

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

CocaCola Announces Dividend

The company 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 dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KO shares. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Wells Fargo & Company upped their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen increased their price objective on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Bank of America raised their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $78.43.

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.