Ossiam Cuts Stake in The Coca-Cola Company (NYSE:KO)

Posted by Defense World Staff on Sep 10th, 2023

Ossiam cut its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 70.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,516 shares of the company’s stock after selling 315,152 shares during the period. Ossiam’s holdings in Coca-Cola were worth $8,034,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Infrastructure Capital Advisors LLC boosted its stake in Coca-Cola by 116.5% in the first quarter. Infrastructure Capital Advisors LLC now owns 19,714 shares of the company’s stock valued at $1,223,000 after acquiring an additional 10,607 shares during the period. Trek Financial LLC boosted its stake in Coca-Cola by 68.2% in the first quarter. Trek Financial LLC now owns 7,287 shares of the company’s stock valued at $452,000 after acquiring an additional 2,955 shares during the period. United Bank boosted its stake in Coca-Cola by 1.6% in the first quarter. United Bank now owns 67,018 shares of the company’s stock valued at $4,157,000 after acquiring an additional 1,066 shares during the period. Viawealth LLC boosted its stake in Coca-Cola by 3.2% in the first quarter. Viawealth LLC now owns 10,476 shares of the company’s stock valued at $650,000 after acquiring an additional 325 shares during the period. Finally, Koss Olinger Consulting LLC boosted its stake in Coca-Cola by 5.8% in the first quarter. Koss Olinger Consulting LLC now owns 10,396 shares of the company’s stock valued at $645,000 after acquiring an additional 566 shares during the period. 68.96% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE KO opened at $58.33 on Friday. The stock has a market cap of $252.24 billion, a P/E ratio of 24.00, a PEG ratio of 3.42 and a beta of 0.55. The company’s 50-day simple moving average is $60.70 and its 200 day simple moving average is $61.29. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio (DPR) is currently 75.72%.

Insider Activity

In related news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the transaction, the senior vice president now directly owns 18,360 shares in the company, valued at $1,118,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the transaction, the senior vice president now directly owns 143,383 shares in the company, valued at $8,984,378.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The disclosure for this sale can be found here. Insiders have sold 227,364 shares of company stock valued at $14,122,016 over the last three months. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on KO shares. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. HSBC dropped their price target on Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. StockNews.com began coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Finally, Wedbush boosted their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Read Our Latest Report on Coca-Cola

Coca-Cola Profile

(Free Report)

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.