Johnson Financial Group LLC Purchases Shares of 3,660 CocaCola Company (The) (NYSE:KO)

Key Points

• Johnson Financial Group LLC recently acquired a position in CocaCola, purchasing 3,660 shares valued at approximately $262,000 in the first quarter.
• Several hedge funds, including Vanguard Group Inc. and Northern Trust Corp, have also increased their stakes in CocaCola, indicating strong institutional interest with 70.26% of the stock owned by such investors.
• CocaCola reported a quarterly earnings per share (EPS) of $0.87, beating estimates and continuing a trend of revenue growth, alongside the announcement of a quarterly dividend of $0.51 per share.

Johnson Financial Group LLC bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,660 shares of the company's stock, valued at approximately $262,000.

A number of other hedge funds have also recently modified their holdings of the stock. New Republic Capital LLC raised its stake in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after purchasing an additional 139 shares in the last quarter. Alteri Wealth LLC grew its holdings in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares during the last quarter. MBA Advisors LLC grew its holdings in shares of CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares during the last quarter. Finally, BXM Wealth LLC grew its holdings in CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $77.21.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

CocaCola Stock Up 0.6%

Shares of NYSE:KO traded up $0.45 on Monday, hitting $70.79. 10,900,246 shares of the company's stock were exchanged, compared to its average volume of 14,680,218. The firm's 50-day moving average is $70.10 and its 200 day moving average is $70.01. The company has a market capitalization of $304.66 billion, a PE ratio of 25.10, a P/E/G ratio of 3.66 and a beta of 0.44. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola's payout ratio is currently 72.34%.

CocaCola Company 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.