Purkiss Capital Advisors LLC Takes Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Purkiss Capital Advisors LLC made a new investment in Coca-Cola Company during the first quarter, acquiring 4,759 shares valued at approximately $341,000.
• Multiple institutional investors have increased their stakes in Coca-Cola, with Capital International Investors raising its stake by 96% in the fourth quarter, reflecting strong interest from the investment community.
• Coca-Cola recently announced a quarterly dividend of $0.51 per share, with a dividend yield of 2.95%, scheduled to be paid on October 1st to stockholders of record as of September 15th.

Purkiss Capital Advisors LLC acquired a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,759 shares of the company's stock, valued at approximately $341,000.

Other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in CocaCola during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC lifted its holdings in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $6,391,355.22. Following the completion of the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. Company insiders own 0.97% of the company's stock.

CocaCola Stock Performance

NYSE:KO traded down $0.43 on Thursday, hitting $68.33. The company's stock had a trading volume of 7,108,355 shares, compared to its average volume of 17,216,830. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average of $70.45 and a two-hundred day moving average of $69.49. The firm has a market capitalization of $294.05 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.61 and a beta of 0.45. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released 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. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.99%. CocaCola's dividend payout ratio is 72.34%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $77.21.

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.