CocaCola Company (The) $KO Shares Acquired by Alpha Family Trust

Key Points

• Alpha Family Trust increased its stake in CocaCola Company by 84.8%, owning 13,020 shares valued at $932,000 after purchasing additional shares in the first quarter.
• A number of hedge funds boosted their holdings in CocaCola, with Brighton Jones LLC rising by 13.3% and Renaissance Technologies LLC increasing by 59.6% in the previous quarter.
• CocaCola declared a quarterly dividend of $0.51, with an annualized yield of 2.9%, to be paid on October 1st to shareholders of record.

Alpha Family Trust raised its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 84.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,020 shares of the company's stock after purchasing an additional 5,975 shares during the quarter. Alpha Family Trust's holdings in CocaCola were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares during the period. Renaissance Technologies LLC increased its stake in shares of CocaCola by 59.6% in the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after acquiring an additional 1,873 shares during the period. Finally, Freedom Investment Management Inc. increased its stake in shares of CocaCola by 17.2% in the fourth quarter. Freedom Investment Management Inc. now owns 7,302 shares of the company's stock worth $455,000 after acquiring an additional 1,071 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the firm's 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 sale, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $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. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective 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. UBS Group dropped their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola Stock Performance

NYSE:KO opened at $69.92 on Monday. The company's 50-day moving average price is $70.02 and its 200-day moving average price is $70.20. 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 $300.91 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.64 and a beta of 0.44. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results 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. 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 company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 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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