Blueshift Asset Management LLC Invests $433,000 in CocaCola Company (The) (NYSE:KO)

Key Points

• Blueshift Asset Management LLC acquired 6,048 shares of Coca-Cola, worth approximately $433,000, during the first quarter, indicating growing institutional interest in the company.
• The recent quarterly earnings report showed Coca-Cola's EPS at $0.87, beating estimates, while revenue reached $12.50 billion, reflecting a 2.5% year-over-year increase.
• Coca-Cola announced a quarterly dividend of $0.51, set to be paid on October 1st, with a current yield of 3.0% and a payout ratio of 72.34%.

Blueshift Asset Management LLC bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,048 shares of the company's stock, valued at approximately $433,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MONECO Advisors LLC increased its position in shares of CocaCola by 4.3% during the 1st quarter. MONECO Advisors LLC now owns 18,452 shares of the company's stock valued at $1,322,000 after purchasing an additional 760 shares during the last quarter. Certified Advisory Corp lifted its stake in CocaCola by 4.0% in the first quarter. Certified Advisory Corp now owns 34,528 shares of the company's stock worth $2,473,000 after purchasing an additional 1,338 shares during the last quarter. Howland Capital Management LLC boosted its position in CocaCola by 1.0% during the first quarter. Howland Capital Management LLC now owns 71,406 shares of the company's stock valued at $5,151,000 after buying an additional 727 shares during the period. Nicolet Advisory Services LLC grew its stake in shares of CocaCola by 2.8% during the first quarter. Nicolet Advisory Services LLC now owns 92,098 shares of the company's stock valued at $6,517,000 after buying an additional 2,538 shares during the last quarter. Finally, Wealthquest Corp lifted its stake in shares of CocaCola by 4.7% in the 1st quarter. Wealthquest Corp now owns 6,045 shares of the company's stock valued at $433,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KO. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Up 0.6%

KO traded up $0.44 during trading on Wednesday, hitting $69.49. 10,770,251 shares of the company's stock traded hands, compared to its average volume of 17,157,236. The stock has a market capitalization of $299.07 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 3.59 and a beta of 0.44. The company's 50 day simple moving average is $70.22 and its two-hundred day simple moving average is $69.73. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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