CocaCola Company (The) $KO Shares Bought by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC increased its stake in CocaCola Company by 6.5% during the second quarter, owning 132,012 shares valued at approximately $9.34 million.
• CocaCola recently announced a quarterly dividend of $0.51 per share, which translates to an annual yield of 3.0% and a payout ratio of 72.34%.
• Analysts maintain a consensus "Buy" rating for CocaCola, with a target price range varying from $75.00 to $79.00, reflecting positive growth expectations for the company.

Apollon Wealth Management LLC boosted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,012 shares of the company's stock after buying an additional 8,023 shares during the quarter. Apollon Wealth Management LLC's holdings in CocaCola were worth $9,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its position in CocaCola by 5.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 107,788 shares of the company's stock valued at $7,626,000 after buying an additional 5,410 shares during the period. Natural Investments LLC grew its position in CocaCola by 4.8% during the second quarter. Natural Investments LLC now owns 7,718 shares of the company's stock valued at $546,000 after buying an additional 355 shares during the period. Summit Place Financial Advisors LLC grew its position in CocaCola by 1.8% during the second quarter. Summit Place Financial Advisors LLC now owns 23,935 shares of the company's stock valued at $1,693,000 after buying an additional 425 shares during the period. Aberdeen Group plc grew its position in CocaCola by 5.0% during the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company's stock valued at $322,455,000 after buying an additional 216,752 shares during the period. Finally, Acima Private Wealth LLC grew its position in CocaCola by 199.9% during the second quarter. Acima Private Wealth LLC now owns 9,132 shares of the company's stock valued at $646,000 after buying an additional 6,087 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE:KO opened at $67.05 on Friday. The company's 50-day moving average price is $68.06 and its 200-day moving average price is $69.85. 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 $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43. 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 Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. On average, sell-side analysts forecast 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 was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's payout ratio is 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. According to MarketBeat.com, CocaCola has a consensus rating of "Buy" and a consensus price target of $76.93.

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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