CocaCola Company (The) (NYSE:KO) Shares Purchased by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its holdings in Coca-Cola by 134.5% during Q1, owning 149,517 shares worth approximately $10.7 million.
• Coca-Cola reported Q2 earnings of $0.87 per share, exceeding analysts' expectations, with revenues of $12.50 billion for the quarter.
• The company recently declared a quarterly dividend of $0.51 per share, with an annualized yield of 2.95%, highlighting its ongoing commitment to returning value to shareholders.

Foundations Investment Advisors LLC lifted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 134.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,517 shares of the company's stock after purchasing an additional 85,754 shares during the period. Foundations Investment Advisors LLC's holdings in CocaCola were worth $10,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KO. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new stake in CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC raised its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares during the period. Finally, Moser Wealth Advisors LLC increased its position in shares of CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after acquiring an additional 409 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE:KO traded down $0.45 during mid-day trading on Thursday, reaching $68.31. The stock had a trading volume of 7,108,355 shares, compared to its average volume of 17,216,830. 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 firm has a market capitalization of $293.96 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.61 and a beta of 0.45. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The business has a 50 day simple moving average of $70.45 and a 200 day simple moving average of $69.49.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during 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 firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.99%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Buying and Selling at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KO. UBS Group cut their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Cfra Research raised CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped 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 hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and an average target price of $77.21.

CocaCola Profile

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.