Sovereign Financial Group Inc. Purchases 171 Shares of CocaCola Company (The) $KO

Sovereign Financial Group Inc. grew its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,908 shares of the company’s stock after acquiring an additional 171 shares during the quarter. Sovereign Financial Group Inc.’s holdings in CocaCola were worth $843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the first quarter valued at approximately $216,000. Perigon Wealth Management LLC increased its stake in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after buying an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares during the period. Finally, Roundview Capital LLC increased its stake in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after buying an additional 2,923 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction 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 transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $67.05 on Friday. The stock has a market capitalization of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock’s 50 day moving average price is $68.06 and its two-hundred day moving average price is $69.85. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KO shares. UBS Group decreased their target price on shares of 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 reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Wells Fargo & Company decreased their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $76.93.

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.