Price Capital Management Inc. Invests $1.52 Million in CocaCola Company (The) (NYSE:KO)

Price Capital Management Inc. bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,220 shares of the company's stock, valued at approximately $1,520,000. CocaCola makes up about 3.8% of Price Capital Management Inc.'s holdings, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. Sage Financial Management Group Inc. bought a new position in shares of CocaCola in the 1st quarter worth $216,000. Voleon Capital Management LP acquired a new stake in shares of CocaCola in the fourth quarter valued at about $2,513,000. Cornerstone Wealth Management LLC increased its position in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. increased its position in CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after buying an additional 204,681 shares during the last quarter. Finally, StoneX Group Inc. boosted its holdings in shares of CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after acquiring an additional 23,009 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Up 0.1%

Shares of KO traded up $0.08 during trading hours on Friday, hitting $69.18. The stock had a trading volume of 12,568,414 shares, compared to its average volume of 16,367,130. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $297.75 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 3.59 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 0.89. The firm has a 50 day simple moving average of $70.64 and a 200-day simple moving average of $69.34.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping 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 firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the firm earned $0.84 EPS. The company's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. CocaCola's payout ratio is 72.34%.

Insider Transactions at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $4,335,629.62. Following the completion of 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. Over the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research note on Monday. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, CocaCola presently has a consensus rating of "Buy" and an average price target of $77.21.

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.