S Bank Fund Management Ltd Makes New $2.82 Million Investment in CocaCola Company (The) (NYSE:KO)

Key Points

• S Bank Fund Management Ltd acquired a new stake in CocaCola Company, purchasing 39,424 shares valued at approximately $2.82 million, as reported in their recent 13F filing.
• CocaCola announced a quarterly dividend of $0.51 per share, with an annualized yield of 2.9%, to be paid on October 1st to shareholders of record as of September 15th.
• The company's recent earnings report indicated $0.87 earnings per share, surpassing estimates and reflecting a 2.5% increase in revenue year-over-year, totaling $12.50 billion.

S Bank Fund Management Ltd purchased a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,424 shares of the company's stock, valued at approximately $2,824,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after buying an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after buying an additional 2,072 shares during the last quarter. Renaissance Technologies LLC lifted its stake in CocaCola by 59.6% in the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock valued at $310,000 after buying an additional 1,873 shares during the last quarter. Finally, Mariner LLC lifted its stake in CocaCola by 7.5% in the fourth quarter. Mariner LLC now owns 1,404,724 shares of the company's stock valued at $87,458,000 after buying an additional 97,901 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price 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 company an "outperform" rating in a research note on Monday, July 21st. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $77.21.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola 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 completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.97% of the company's stock.

CocaCola Stock Performance

Shares of KO traded down $0.89 during trading hours on Thursday, reaching $69.57. 10,708,941 shares of the company's stock traded hands, compared to its average volume of 14,306,699. The business's fifty day simple moving average is $70.05 and its two-hundred day simple moving average is $70.06. The firm has a market capitalization of $299.40 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 3.67 and a beta of 0.44. CocaCola Company has a twelve month low of $60.62 and a twelve month 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.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. CocaCola's revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. 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 2.9%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

CocaCola 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.