Venture Visionary Partners LLC Trims Holdings in CocaCola Company (The) $KO

Venture Visionary Partners LLC decreased its stake in shares of CocaCola Company (The) (NYSE:KO) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,315 shares of the company’s stock after selling 15,456 shares during the quarter. Venture Visionary Partners LLC’s holdings in CocaCola were worth $7,581,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KO. 1248 Management LLC bought a new position in CocaCola in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 during the period. Headlands Technologies LLC bought a new position in shares of CocaCola during the 2nd quarter worth $26,000. GFG Capital LLC purchased a new position in shares of CocaCola during the second quarter valued at $34,000. Finally, MMA Asset Management LLC bought a new stake in shares of CocaCola in the second quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KO shares. Bank of America raised their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. One equities 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, the company presently has a consensus rating of “Buy” and a consensus price target of $79.08.

CocaCola Trading Up 0.6%

Shares of CocaCola stock opened at $70.97 on Tuesday. The firm’s 50 day simple moving average is $69.95 and its two-hundred day simple moving average is $69.47. The firm has a market capitalization of $305.28 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.92 and a beta of 0.39. 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 released its 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. Analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Activity

In other news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the sale, the executive vice president owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% 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. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction 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. The trade was a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is owned by insiders.

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.