OFI Invest Asset Management Has $39.30 Million Stock Position in CocaCola Company (The) $KO

Key Points

• OFI Invest Asset Management increased its stake in CocaCola by 6.2%, owning 555,410 shares valued at approximately $39.30 million.
• CocaCola recently paid a quarterly dividend of $0.51 per share, representing an annualized yield of 3.0%.
• Institutional investors now own 70.26% of CocaCola's stock, reflecting a strong interest in the company by large investment firms.

OFI Invest Asset Management raised its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 555,410 shares of the company's stock after purchasing an additional 32,541 shares during the quarter. OFI Invest Asset Management's holdings in CocaCola were worth $39,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its holdings 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 buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings 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 buying an additional 293 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CocaCola by 19.0% during the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after buying an additional 13,261 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in CocaCola by 21.7% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 17,291 shares of the company's stock worth $1,238,000 after buying an additional 3,078 shares in the last quarter. Finally, West Branch Capital LLC lifted its holdings in CocaCola by 14.3% during the 1st quarter. West Branch Capital LLC now owns 40,935 shares of the company's stock worth $2,932,000 after buying an additional 5,128 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Price Performance

Shares of NYSE KO opened at $67.05 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. The business has a 50-day moving average of $68.06 and a 200-day moving average of $69.85.

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

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were 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 approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company's stock.

Analyst Ratings Changes

KO has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company dropped their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $76.93.

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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