IFP Advisors Inc Sells 1,309 Shares of CocaCola Company (The) $KO

IFP Advisors Inc lowered its holdings in CocaCola Company (The) (NYSE:KO) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,144 shares of the company’s stock after selling 1,309 shares during the quarter. IFP Advisors Inc’s holdings in CocaCola were worth $4,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter valued at about $25,000. 1248 Management LLC bought a new stake in CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. bought a new stake in CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew 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 buying an additional 285 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on 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. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KO. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $76.93.

CocaCola Price Performance

Shares of KO stock opened at $67.05 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm’s 50 day moving average is $68.06 and its 200-day moving average is $69.85. The firm has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.46 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $11.40 billion for the quarter. Sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

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.