CocaCola Company (The) $KO Position Increased by CCLA Investment Management

CCLA Investment Management increased its stake in CocaCola Company (The) (NYSE:KO) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,257,208 shares of the company’s stock after acquiring an additional 63,636 shares during the period. CocaCola comprises 0.1% of CCLA Investment Management’s holdings, making the stock its 11th largest position. CCLA Investment Management’s holdings in CocaCola were worth $159,629,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in KO. Brighton Jones LLC lifted its holdings in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Patron Partners LLC bought a new stake in CocaCola during the 1st quarter valued at $208,000. Golden State Wealth Management LLC raised its stake in CocaCola by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,154 shares of the company’s stock valued at $298,000 after acquiring an additional 720 shares in the last quarter. Finally, CFM Wealth Partners LLC raised its stake in CocaCola by 3.1% during the 1st quarter. CFM Wealth Partners LLC now owns 68,152 shares of the company’s stock valued at $4,881,000 after acquiring an additional 2,025 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 0.3%

KO opened at $69.74 on Monday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s fifty day moving average is $67.81 and its 200-day moving average is $69.74. The company has a market capitalization of $300.12 billion, a PE ratio of 23.09, a P/E/G ratio of 3.64 and a beta of 0.43.

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

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KO shares. TD Cowen lifted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat, CocaCola has a consensus rating of “Buy” and an average target price of $78.31.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s 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 sale, the insider owned 209,513 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.97% of the company’s stock.

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.