Morningstar Investment Management LLC Makes New $639,000 Investment in CocaCola Company (The) $KO

Key Points

• Morningstar Investment Management LLC invested $639,000 in Coca-Cola Company, acquiring 9,028 shares during the second quarter.
• Coca-Cola has a market cap of $287.29 billion and reported a quarterly revenue of $11.40 billion along with earnings per share of $0.55.
• Coca-Cola announced a quarterly dividend of $0.51 per share, leading to an annualized dividend of $2.04 and a yield of 3.1%.

Morningstar Investment Management LLC bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,028 shares of the company's stock, valued at approximately $639,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sage Financial Management Group Inc. purchased a new stake in CocaCola in the first quarter worth $216,000. Perigon Wealth Management LLC increased its stake in CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC increased its stake in 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 period. Finally, Roundview Capital LLC increased its stake in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock worth $2,474,000 after purchasing an additional 2,923 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

Shares of KO stock opened at $66.76 on Tuesday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock's 50-day moving average is $68.01 and its 200 day moving average is $69.82. The company has a market cap of $287.29 billion, a P/E ratio of 23.67, a PEG ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion for the quarter. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KO shares. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, CocaCola presently has an average rating of "Buy" and a consensus target price of $76.93.

Insiders Place Their Bets

In related 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 transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

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.

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