Savoir Faire Capital Management L.P. Purchases New Holdings in CocaCola Company (The) (NYSE:KO)

Savoir Faire Capital Management L.P. acquired a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,340 shares of the company's stock, valued at approximately $2,245,000. CocaCola comprises 2.0% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake 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 acquiring an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG lifted 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 acquiring an additional 2,072 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in CocaCola by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company's stock worth $675,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in CocaCola during the 4th quarter worth about $718,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by insiders.

CocaCola Price Performance

Shares of KO traded down $0.71 during mid-day trading on Friday, hitting $69.88. The company's stock had a trading volume of 14,904,122 shares, compared to its average volume of 16,421,020. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The firm has a 50-day simple moving average of $70.71 and a 200 day simple moving average of $69.07. The firm has a market capitalization of $300.78 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.66 and a beta of 0.45. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. CocaCola's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CocaCola's dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

Several brokerages have weighed in on KO. JPMorgan Chase & Co. upped their price target on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada increased their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $76.71.

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.