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Koss Olinger Consulting LLC Takes $661,000 Position in CocaCola Company (The) (NYSE:KO)

CocaCola logo with Consumer Staples background

Key Points

  • Koss Olinger Consulting LLC has initiated a new position in CocaCola Company, purchasing 9,228 shares valued at approximately $661,000.
  • CEO James Quincey sold 266,403 shares of CocaCola stock for about $19.2 million, representing a 49.12% decrease in his ownership.
  • CocaCola reported a quarterly earnings per share (EPS) of $0.87, surpassing estimates, with revenues totaling $12.50 billion.
  • Want stock alerts on CocaCola? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Koss Olinger Consulting LLC bought a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,228 shares of the company's stock, valued at approximately $661,000.

Several other hedge funds have also recently bought and sold shares of KO. Brighton Jones LLC lifted its stake in CocaCola by 13.3% during 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 during the period. Revolve Wealth Partners LLC lifted its stake in 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 purchasing an additional 293 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after purchasing an additional 2,072 shares during the period. Renaissance Technologies LLC increased its holdings in shares of CocaCola by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after buying an additional 1,873 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of CocaCola by 2.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,853,295 shares of the company's stock worth $115,382,000 after buying an additional 46,687 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction 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 owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

CocaCola Stock Performance

Shares of NYSE KO remained flat at $70.75 during trading hours on Tuesday. 11,060,613 shares of the company traded hands, compared to its average volume of 14,526,525. 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 firm has a market cap of $304.48 billion, a P/E ratio of 25.09, a PEG ratio of 3.68 and a beta of 0.44. The firm has a fifty day moving average of $70.09 and a two-hundred day moving average of $70.02. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The business 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 in the prior year, the firm earned $0.84 EPS. As a group, sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's dividend payout ratio is presently 72.34%.

Analysts Set New Price Targets

Several analysts have recently weighed in on KO shares. UBS Group dropped their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, CocaCola currently has an average rating of "Buy" and an average price target of $77.21.

Read Our Latest Analysis on KO

CocaCola Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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