Neo Ivy Capital Management Acquires New Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Neo Ivy Capital Management acquired a new stake in Coca-Cola, purchasing 11,690 shares valued at approximately $837,000, as part of its 1st quarter investment activities.
• Recent analyst ratings show a consensus "Buy" rating for Coca-Cola, with an average price target of $77.21, highlighting positive investor sentiment.
• The company announced a $0.51 quarterly dividend, reflecting a dividend yield of 2.95%, which will be paid on October 1st to shareholders of record by September 15th.

Neo Ivy Capital Management purchased a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,690 shares of the company's stock, valued at approximately $837,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after buying an additional 2,072 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of CocaCola in the fourth quarter valued at approximately $38,000. Finally, Financial Engines Advisors L.L.C. lifted its holdings in CocaCola by 88.6% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 10,320 shares of the company's stock valued at $643,000 after acquiring an additional 4,847 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Trading Up 1.4%

KO stock traded up $0.99 during midday trading on Tuesday, hitting $69.08. The stock had a trading volume of 5,080,496 shares, compared to its average volume of 17,253,309. The firm has a market cap of $297.32 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.60 and a beta of 0.45. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company's 50-day moving average price is $70.56 and its 200 day moving average price is $69.50.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same period in the previous year, the company earned $0.84 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities 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 will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. CocaCola's dividend payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KO shares. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group decreased their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. 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 report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, BNP Paribas restated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $77.21.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction 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 transaction, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 in the last ninety days. Company insiders own 0.90% of the company's stock.

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.