TrueMark Investments LLC Purchases 6,487 Shares of CocaCola Company (The) $KO

Key Points

• TrueMark Investments LLC increased its stake in CocaCola by 8.8%, acquiring an additional 6,487 shares, bringing its total holdings to 80,076 shares valued at approximately $5.67 million.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with an annualized yield of 3.0%, set to be paid on December 15th.
• The company's current stock price is $68.45, showing a recent 1.3% increase, while its market capitalization stands at $294.60 billion.

TrueMark Investments LLC grew its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,076 shares of the company's stock after buying an additional 6,487 shares during the quarter. CocaCola accounts for approximately 1.2% of TrueMark Investments LLC's holdings, making the stock its 17th largest position. TrueMark Investments LLC's holdings in CocaCola were worth $5,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Vanguard Group Inc. raised its holdings in CocaCola by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP raised its holdings in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi raised its holdings in CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company's stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the period. Finally, Nuveen LLC bought a new position in CocaCola in the 1st quarter worth $1,508,657,000. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 1.3%

Shares of NYSE KO opened at $68.45 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company has a market cap of $294.60 billion, a P/E ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a 50-day simple moving average of $67.84 and a two-hundred day simple moving average of $69.72.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. Research analysts anticipate 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 Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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