Phoenix Financial Ltd. Boosts Position in CocaCola Company (The) $KO

Phoenix Financial Ltd. boosted its position in CocaCola Company (The) (NYSE:KO) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,726 shares of the company’s stock after purchasing an additional 5,461 shares during the period. Phoenix Financial Ltd.’s holdings in CocaCola were worth $3,242,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the first quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in CocaCola during the first quarter valued at approximately $26,000. Ridgewood Investments LLC raised its position in 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 period. GFG Capital LLC bought a new position in CocaCola in the second quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of CocaCola during the 1st quarter worth $42,000. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

NYSE:KO opened at $71.22 on Wednesday. The stock has a 50-day moving average price of $67.80 and a 200 day moving average price of $69.70. The stock has a market capitalization of $306.51 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.57 and a beta of 0.43. 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.

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

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Analysts Set New Price Targets

Several research firms have recently commented on KO. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report 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 report on Monday, July 21st. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $77.23.

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.