Sowell Financial Services LLC Sells 12,588 Shares of CocaCola Company (The) $KO

Sowell Financial Services LLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,918 shares of the company’s stock after selling 12,588 shares during the quarter. Sowell Financial Services LLC’s holdings in CocaCola were worth $9,412,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Norges Bank purchased a new stake in CocaCola in the 2nd quarter worth $3,846,270,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CocaCola by 6.2% in 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 acquiring an additional 1,794,561 shares in the last quarter. Legal & General Group Plc lifted its position in shares of CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after acquiring an additional 285,794 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of CocaCola by 10.9% in the second quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock worth $1,791,962,000 after acquiring an additional 2,497,585 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen lifted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $79.08.

Insider Transactions at CocaCola

In related news, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at $996,835.29. This trade represents a 102.05% increase in their position. The acquisition 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 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 sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.3%

KO stock opened at $69.90 on Friday. The firm has a fifty day moving average price of $70.51 and a 200 day moving average price of $69.39. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market cap of $300.69 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.88 and a beta of 0.39. 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 (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business 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 of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

CocaCola Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.