GSA Capital Partners LLP Has $2.49 Million Stake in CocaCola Company (The) (NYSE:KO)

Key Points

• GSA Capital Partners LLP has increased its holdings in CocaCola by 53.3% during the 1st quarter, acquiring an additional 12,087 shares, bringing their total ownership to 34,749 shares valued at approximately $2.49 million.
• Several other institutional investors, including Northern Trust Corp and Franklin Resources Inc., also boosted their stakes in CocaCola during the 4th quarter, contributing to a total institutional ownership of 70.26%.
• The CocaCola Company reported earnings per share of $0.87 for the latest quarter, exceeding analysts' estimates, while a quarterly dividend of $0.51 will be paid on October 1st, resulting in an annualized yield of 3.00%.

GSA Capital Partners LLP increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 53.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,749 shares of the company's stock after acquiring an additional 12,087 shares during the quarter. CocaCola makes up approximately 0.2% of GSA Capital Partners LLP's holdings, making the stock its 29th biggest holding. GSA Capital Partners LLP's holdings in CocaCola were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. increased its stake in shares of 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 increased its stake in shares of 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, REAP Financial Group LLC increased its stake in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Up 1.5%

Shares of NYSE:KO traded up $1.00 during trading on Friday, reaching $68.89. 10,361,737 shares of the company traded hands, compared to its average volume of 17,236,900. The firm has a fifty day simple moving average of $70.39 and a 200 day simple moving average of $69.54. The firm has a market cap of $296.50 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 3.58 and a beta of 0.45. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.84 EPS. Analysts anticipate 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 Wednesday, October 1st. Investors 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 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on KO. 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 note on Wednesday, July 23rd. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. 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. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $77.21.

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.