11,967 Shares in CocaCola Company (The) (NYSE:KO) Bought by Horizon Family Wealth Inc.

Key Points

• Horizon Family Wealth Inc. has invested approximately $857,000 in 11,967 shares of CocaCola, marking it as the firm's 28th largest holding.
• The company reported an EPS of $0.87 for the last quarter, exceeding analysts' expectations and showing a 2.5% increase in revenue year-over-year.
• CocaCola has announced a quarterly dividend of $0.51 per share, with an annualized yield of 3.0%, to be paid on October 1st.

Horizon Family Wealth Inc. bought a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,967 shares of the company's stock, valued at approximately $857,000. CocaCola makes up 0.6% of Horizon Family Wealth Inc.'s investment portfolio, making the stock its 28th largest position.

Several other hedge funds have also added to or reduced their stakes in KO. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola during the 1st quarter worth approximately $216,000. Voleon Capital Management LP acquired a new stake in shares of CocaCola during the fourth quarter valued at about $2,513,000. Cornerstone Wealth Management LLC grew its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after acquiring an additional 204,681 shares during the last quarter. Finally, Investors Research Corp increased its position in shares of CocaCola by 21.5% during the first quarter. Investors Research Corp now owns 10,419 shares of the company's stock worth $746,000 after buying an additional 1,846 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was 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 of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CocaCola presently has an average rating of "Buy" and an average price target of $77.21.

CocaCola Stock Up 1.3%

Shares of NYSE KO traded up $0.90 during mid-day trading on Thursday, reaching $70.41. 15,784,037 shares of the company's stock were exchanged, compared to its average volume of 14,805,632. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. 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 business has a fifty day simple moving average of $70.16 and a 200 day simple moving average of $69.78. The firm has a market capitalization of $303.03 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.62 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

CocaCola Company 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.