ASR Vermogensbeheer N.V. acquired a new stake in CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 423,660 shares of the company's stock, valued at approximately $30,343,000.
Other large investors have also added to or reduced their stakes in the company. Sage Financial Management Group Inc. bought a new position in CocaCola in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP bought a new position in CocaCola during the 4th quarter worth approximately $2,513,000. Cornerstone Wealth Management LLC raised its holdings in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after purchasing an additional 204,681 shares during the last quarter. Finally, Investors Research Corp raised its holdings in CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock worth $746,000 after purchasing an additional 1,846 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
Analyst Ratings Changes
Several research analysts have issued reports on KO shares. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. UBS Group reduced their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $77.21.
Check Out Our Latest Stock Analysis on CocaCola
Insiders Place Their Bets
In other news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% 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. Insiders own 0.90% of the company's stock.
CocaCola Price Performance
KO opened at $69.00 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company has a market capitalization of $296.95 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 3.59 and a beta of 0.44. The firm's fifty day moving average price is $70.22 and its two-hundred day moving average price is $69.73. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.
CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.84 EPS. As a group, analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.
CocaCola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.
CocaCola Company 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.
Further Reading
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