CCM Investment Group LLC Invests $5.72 Million in CocaCola Company (The) (NYSE:KO)

Key Points

• CCM Investment Group LLC has acquired 81,289 shares of CocaCola Company, valued at approximately $5.72 million, making it the firm’s 28th largest position.
• Wall Street analysts maintain a positive outlook on CocaCola, with an average rating of "Buy" and a target price of $77.21.
• CocaCola recently announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 2.9% with a payout ratio of 72.34%.

CCM Investment Group LLC purchased a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 81,289 shares of the company's stock, valued at approximately $5,720,000. CocaCola makes up approximately 0.6% of CCM Investment Group LLC's holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola in the first quarter worth $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter worth $30,000. Mizuho Securities Co. Ltd. increased its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC increased 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 worth $34,000 after buying an additional 285 shares during the last quarter. Finally, Moser Wealth Advisors LLC increased its stake in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were 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 directly owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. UBS Group lowered their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola Stock Performance

KO stock remained flat at $70.75 during trading on Tuesday. 11,060,613 shares of the company traded hands, compared to its average volume of 14,526,525. The company has a market capitalization of $304.48 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44. The firm has a fifty day moving average price of $70.09 and a 200 day moving average price of $70.02. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that CocaCola Company will post 2.96 EPS 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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

About CocaCola

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.