Carnegie Investment Counsel Buys 5,694 Shares of CocaCola Company (The) $KO

Carnegie Investment Counsel boosted its stake in CocaCola Company (The) (NYSE:KO) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 106,017 shares of the company’s stock after purchasing an additional 5,694 shares during the period. Carnegie Investment Counsel’s holdings in CocaCola were worth $7,501,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in KO. Brighton Jones LLC raised its position in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC raised its position in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the period. GAMMA Investing LLC raised its position in shares of CocaCola by 19.0% in the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after purchasing an additional 13,261 shares during the period. Pure Financial Advisors LLC raised its position in shares of CocaCola by 42.7% in the first quarter. Pure Financial Advisors LLC now owns 8,081 shares of the company’s stock valued at $579,000 after purchasing an additional 2,418 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of CocaCola by 25.7% in the first quarter. Sequoia Financial Advisors LLC now owns 196,331 shares of the company’s stock valued at $14,061,000 after purchasing an additional 40,178 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on KO shares. TD Cowen boosted their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday. Finally, UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average target price of $78.31.

CocaCola Price Performance

KO stock opened at $69.74 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market cap of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. The firm has a 50 day simple moving average of $67.81 and a two-hundred day simple moving average of $69.73.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion during the quarter. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

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.