CocaCola Company (The) (NYSE:KO) Shares Acquired by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC increased its stake in CocaCola by 20.6%, owning 48,190 shares valued at approximately $3,451,000 as of the latest SEC filing.
• CocaCola recently reported quarterly earnings of $0.87 per share, exceeding analysts' estimates, and has a net margin of 25.89%.
• The company declared a quarterly dividend of $0.51 per share, equating to an annual yield of 3.0%, set to be paid on October 1st.

Thoroughbred Financial Services LLC increased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,190 shares of the company's stock after buying an additional 8,243 shares during the quarter. Thoroughbred Financial Services LLC's holdings in CocaCola were worth $3,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KO. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the first quarter valued at $25,000. Garde Capital Inc. purchased a new stake in CocaCola in the first quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its position in 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 during the period. Ridgewood Investments LLC raised its position in 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 during the period. Finally, REAP Financial Group LLC raised its position in 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 during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE:KO traded up $0.90 during mid-day trading on Thursday, reaching $70.41. 15,784,037 shares of the stock were exchanged, compared to its average volume of 14,805,632. The company has a 50 day simple moving average of $70.16 and a 200-day simple moving average of $69.78. The stock has a market capitalization of $303.03 billion, a P/E ratio of 24.97, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. 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 released its quarterly 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 the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. UBS Group cut their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One investment 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 MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $77.21.

Insider Buying and Selling

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

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.