67,830 Shares in CocaCola Company (The) (NYSE:KO) Bought by Generate Investment Management Ltd

Generate Investment Management Ltd bought a new position in CocaCola Company (The) (NYSE:KO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 67,830 shares of the company’s stock, valued at approximately $4,858,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in CocaCola in the first quarter worth $30,000. Crowley Wealth Management Inc. purchased a new position in CocaCola in the fourth quarter worth $27,000. Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Moser Wealth Advisors LLC grew its position in CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock worth $36,000 after acquiring an additional 409 shares in the last quarter. Finally, Mainstream Capital Management LLC purchased a new position in CocaCola in the fourth quarter worth $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Piper Sandler boosted their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, CocaCola presently has a consensus rating of “Buy” and an average price target of $76.27.

CocaCola Stock Performance

Shares of NYSE:KO opened at $70.20 on Wednesday. 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 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average price of $71.42 and a 200-day moving average price of $68.17. The company has a market cap of $302.16 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. CocaCola’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. 0.90% of the stock is owned by company insiders.

CocaCola Company 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.