AlphaCore Capital LLC Invests $837,000 in CocaCola Company (The) (NYSE:KO)

Key Points

• AlphaCore Capital LLC acquired 11,611 shares of CocaCola Company, valued at approximately $837,000, in the first quarter of the year.
• CocaCola has recently been rated with a buy or outperform status by numerous analysts, with average price targets ranging from $76.00 to $83.00.
• The company announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 2.9%, with a payout ratio of 72.34%.

AlphaCore Capital LLC bought a new stake 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 and Exchange Commission (SEC). The firm bought 11,611 shares of the company's stock, valued at approximately $837,000.

A number of other large investors also recently modified their holdings of KO. MorganRosel Wealth Management LLC bought a new stake in CocaCola during the first quarter worth $25,000. Garde Capital Inc. bought a new stake in CocaCola during the first quarter worth $30,000. Mizuho Securities Co. Ltd. lifted its holdings in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC raised its stake in shares of CocaCola by 148.4% in the first 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 period. Finally, REAP Financial Group LLC raised its stake in shares of CocaCola by 57.5% in the fourth 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 period. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on KO shares. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, UBS Group lowered their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $77.21.

Insider Activity

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

CocaCola Price Performance

Shares of NYSE KO traded up $0.45 during midday trading 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. 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. The company has a market cap of $304.66 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.66 and a beta of 0.44. The business's fifty day moving average price is $70.13 and its two-hundred day moving average price is $69.95.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping 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 company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. CocaCola's revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared 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 of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's payout ratio 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.