Ellis Investment Partners LLC Increases Stake in CocaCola Company (The) $KO

Ellis Investment Partners LLC grew its stake in CocaCola Company (The) (NYSE:KO) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,199 shares of the company’s stock after buying an additional 421 shares during the quarter. Ellis Investment Partners LLC’s holdings in CocaCola were worth $792,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the 1st quarter valued at about $26,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC boosted its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KO. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. 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, JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued 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 $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on 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 transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

CocaCola Trading Up 1.0%

KO opened at $67.05 on Monday. The firm has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth 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 business’s 50 day moving average is $68.06 and its two-hundred day moving average is $69.84. 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 (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company 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, 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 was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s payout ratio is 72.34%.

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.