Longbow Finance SA acquired a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 321,668 shares of the company's stock, valued at approximately $23,038,000. CocaCola makes up 2.8% of Longbow Finance SA's investment portfolio, making the stock its 10th biggest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in CocaCola by 13.3% during the 4th 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 last quarter. Revolve Wealth Partners LLC grew its position in CocaCola by 3.4% during the 4th 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 last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of 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. Murphy & Mullick Capital Management Corp acquired a new stake in shares of CocaCola during the fourth quarter worth about $38,000. Finally, Financial Engines Advisors L.L.C. lifted its holdings in shares of CocaCola by 88.6% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 10,320 shares of the company's stock worth $643,000 after purchasing an additional 4,847 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.
Insider Transactions at CocaCola
In related news, CFO John Murphy sold 88,658 shares of the company'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 sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the 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 transaction, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last quarter. Insiders own 0.90% of the company's stock.
CocaCola Stock Down 1.4%
CocaCola stock traded down $0.93 during mid-day trading on Monday, hitting $68.24. 6,335,502 shares of the company's stock were exchanged, compared to its average volume of 17,293,098. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a 50 day moving average of $70.64 and a two-hundred day moving average of $69.45. The stock has a market cap of $293.71 billion, a P/E ratio of 24.20, a P/E/G ratio of 3.60 and a beta of 0.45.
CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The firm 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 business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, analysts anticipate 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. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 72.34%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on KO shares. UBS Group decreased their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. BNP Paribas reissued an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $77.21.
Check Out Our Latest Stock Analysis on CocaCola
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.
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