Chancellor Financial Group WB LP Purchases 2,723 Shares of CocaCola Company (The) $KO

Chancellor Financial Group WB LP raised its position in shares of CocaCola Company (The) (NYSE:KO) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,222 shares of the company’s stock after purchasing an additional 2,723 shares during the quarter. CocaCola accounts for about 0.8% of Chancellor Financial Group WB LP’s investment portfolio, making the stock its 26th largest position. Chancellor Financial Group WB LP’s holdings in CocaCola were worth $1,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in CocaCola in the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC grew its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. MMA Asset Management LLC bought a new stake in CocaCola during the 2nd quarter valued at approximately $34,000. Finally, GFG Capital LLC purchased a new position in CocaCola in the 2nd quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The SEC filing for this purchase provides additional information. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Bank of America boosted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Price Performance

KO stock opened at $70.61 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm has a market capitalization of $303.75 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a fifty day simple moving average of $67.75 and a two-hundred day simple moving average of $69.56. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion for the quarter. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

CocaCola Company 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.