Triton Financial Group Inc Invests $2.89 Million in CocaCola Company (The) $KO

Key Points

• Triton Financial Group Inc invested approximately $2.89 million in CocaCola Company by acquiring 40,849 shares, making CocaCola the fund's 10th largest holding.
• CocaCola announced a quarterly dividend of $0.51 per share to be paid on December 15th, representing an annualized yield of 3.0%.
• Recent analyst reports indicate a mix of outlooks, with Wells Fargo reducing its price target from $78.00 to $75.00, while consensus estimates suggest a target price of $76.69 for the stock.

Triton Financial Group Inc purchased a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,849 shares of the company's stock, valued at approximately $2,890,000. CocaCola comprises about 2.1% of Triton Financial Group Inc's portfolio, making the stock its 10th biggest holding.

Other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the first quarter worth $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the first quarter worth $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the first quarter worth $30,000. Ridgewood Investments LLC raised 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 worth $34,000 after acquiring an additional 285 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of CocaCola in the second quarter worth $34,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Price Performance

KO stock opened at $68.52 on Tuesday. The stock has a 50-day moving average price of $67.79 and a two-hundred day moving average price of $69.69. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 company has a market cap of $294.90 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion during the quarter. As a group, research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio is 72.34%.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. UBS Group lowered their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $76.69.

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.

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