CocaCola Company (The) $KO Shares Bought by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in CocaCola, owning 2,158,337 shares after purchasing an additional 24,104 shares, representing a value of $152.7 million.
• CocaCola announced a quarterly dividend of $0.51 per share, with a payout ratio of 72.34%, to be paid on December 15th.
• Wall Street analysts have a generally positive outlook on CocaCola, with an average target price of $76.69 and an average rating of "Buy" for the stock.

Chevy Chase Trust Holdings LLC grew its position in CocaCola Company (The) (NYSE:KO - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,158,337 shares of the company's stock after buying an additional 24,104 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of CocaCola worth $152,702,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KO. Brighton Jones LLC boosted its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the period. GAMMA Investing LLC boosted its position in shares of CocaCola by 19.0% during the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after purchasing an additional 13,261 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of CocaCola by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,151,849 shares of the company's stock worth $82,496,000 after purchasing an additional 57,315 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its position in shares of CocaCola by 2.0% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,487,846 shares of the company's stock worth $106,560,000 after purchasing an additional 29,155 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

Shares of NYSE:KO opened at $67.54 on Friday. The company's fifty day moving average price is $67.88 and its 200 day moving average price is $69.75. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 firm has a market capitalization of $290.67 billion, a P/E ratio of 23.95, a P/E/G ratio of 3.49 and a beta of 0.43.

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

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's payout ratio is currently 72.34%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KO. 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. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target 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, BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $76.69.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

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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