Ethic Inc. Has $4.74 Million Stock Holdings in CocaCola Company (The) $KO

Key Points

• Ethic Inc. has increased its holdings in CocaCola Company by 9.0%, now owning 67,458 shares worth approximately $4.74 million.
• CocaCola announced a quarterly dividend of $0.51 per share, set to be paid on December 15th, with an annualized yield of 2.9%.
• Analysts have set new price targets for CocaCola, with an average target of $78.31, reflecting strong investor confidence in the stock.

Ethic Inc. increased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 9.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,458 shares of the company's stock after purchasing an additional 5,586 shares during the period. Ethic Inc.'s holdings in CocaCola were worth $4,744,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KO. Brighton Jones LLC raised its position in 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 purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after buying an additional 13,261 shares in the last quarter. Moran Wealth Management LLC increased its holdings in shares of CocaCola by 54.3% during the first quarter. Moran Wealth Management LLC now owns 64,554 shares of the company's stock worth $4,623,000 after buying an additional 22,704 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of CocaCola by 3.5% during the first quarter. Spire Wealth Management now owns 39,392 shares of the company's stock worth $2,821,000 after buying an additional 1,339 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $70.01 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 0.98. The firm has a market cap of $301.32 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.69 and a beta of 0.43. The firm has a 50 day simple moving average of $67.82 and a 200 day simple moving average of $69.72. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion during the quarter. 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio is currently 67.55%.

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 transaction 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. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company raised their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Evercore ISI reissued an "outperform" rating on shares of CocaCola in a report on Tuesday. One investment 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, the company currently has an average rating of "Buy" and a consensus target price of $78.31.

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.

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