Brown Advisory Inc. Sells 32,561 Shares of CocaCola Company (The) $KO

Brown Advisory Inc. cut its holdings in CocaCola Company (The) (NYSE:KO) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 752,505 shares of the company’s stock after selling 32,561 shares during the period. Brown Advisory Inc.’s holdings in CocaCola were worth $53,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SCS Capital Management LLC lifted its holdings in shares of CocaCola by 119.8% during the second quarter. SCS Capital Management LLC now owns 463,267 shares of the company’s stock valued at $32,986,000 after purchasing an additional 252,523 shares in the last quarter. Marshall Wace LLP raised its position in CocaCola by 1,044.8% in the 2nd quarter. Marshall Wace LLP now owns 2,036,740 shares of the company’s stock worth $144,099,000 after buying an additional 1,858,834 shares during the last quarter. Mirabella Financial Services LLP bought a new position in CocaCola during the 2nd quarter valued at about $2,030,000. Epoch Investment Partners Inc. boosted its holdings in shares of CocaCola by 0.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 738,975 shares of the company’s stock valued at $52,282,000 after acquiring an additional 5,207 shares during the last quarter. Finally, Veltria Advisors Corp. grew its stake in shares of CocaCola by 5.7% in the second quarter. Veltria Advisors Corp. now owns 8,801 shares of the company’s stock worth $623,000 after acquiring an additional 474 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KO shares. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a report on Friday. Piper Sandler increased their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Bank of America raised their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Stock Performance

NYSE:KO opened at $69.94 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. The stock has a 50-day simple moving average of $69.49 and a two-hundred day simple moving average of $69.56. The firm has a market capitalization of $300.85 billion, a PE ratio of 23.16, a P/E/G ratio of 3.91 and a beta of 0.39. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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%. Analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Insiders Place Their Bets

In other news, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 225,252 shares of company stock valued at $15,953,007. Insiders own 0.97% of the company’s stock.

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.