Chicago Partners Investment Group LLC Increases Stock Holdings in CocaCola Company (The) $KO

Key Points

• Chicago Partners Investment Group LLC has increased its holdings in CocaCola Company by 10.7% during the second quarter, owning a total of 39,516 shares valued at approximately $2.73 million.
• Multiple analysts have rated CocaCola with a consensus target price of $76.69, with several recommending the stock as a "buy" based on recently updated price targets.
• The company announced a quarterly dividend of $0.51 per share, which will be issued to stockholders on record as of December 1, contributing to an annualized yield of 3.0%.

Chicago Partners Investment Group LLC lifted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,516 shares of the company's stock after purchasing an additional 3,810 shares during the quarter. Chicago Partners Investment Group LLC's holdings in CocaCola were worth $2,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. New Republic Capital LLC raised its stake in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after buying an additional 139 shares during the period. Alteri Wealth LLC lifted its stake in shares of CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after buying an additional 140 shares in the last quarter. Requisite Capital Management LLC grew its stake in CocaCola by 2.8% during the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company's stock valued at $377,000 after acquiring an additional 142 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after buying an additional 143 shares in the last quarter. Finally, MBA Advisors LLC increased its stake in shares of CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after acquiring an additional 143 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Wells Fargo & Company decreased their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat, CocaCola currently has an average rating of "Buy" and a consensus target price of $76.69.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

CocaCola Stock Performance

Shares of KO opened at $68.45 on Monday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a 50-day simple moving average of $67.84 and a 200-day simple moving average of $69.69. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market capitalization of $294.60 billion, a PE ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. 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.

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