Accuvest Global Advisors Invests $1.73 Million in CocaCola Company (The) (NYSE:KO)

Key Points

• Accuvest Global Advisors has invested $1.73 million in Coca-Cola Company, acquiring 24,195 shares which now represent approximately 1.5% of their investment portfolio.
• Coca-Cola recently declared a quarterly dividend of $0.51, set to be paid on October 1st, which reflects an annualized yield of 2.9%.
• Various institutional investors are actively increasing their holdings in Coca-Cola, with Deutsche Bank AG raising its position by 8% in the first quarter.

Accuvest Global Advisors bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,195 shares of the company's stock, valued at approximately $1,733,000. CocaCola comprises 1.5% of Accuvest Global Advisors' portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new position in CocaCola in the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after buying an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC raised its holdings in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KO shares. Morgan Stanley reissued an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. UBS Group decreased their target price 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 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $77.21.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on 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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on 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 sale, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Down 0.2%

NYSE:KO traded down $0.11 during trading hours on Friday, hitting $70.32. 9,229,863 shares of the company traded hands, compared to its average volume of 14,864,419. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm's 50-day simple moving average is $70.13 and its 200-day simple moving average is $69.83. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a market cap of $302.63 billion, a PE ratio of 24.94, a PEG ratio of 3.67 and a beta of 0.44.

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

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a 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.