Attessa Capital LLC Purchases Shares of 3,300 The Coca-Cola Company (NYSE:KO)

Attessa Capital LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 3,300 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors also recently bought and sold shares of KO. Norges Bank acquired a new stake in shares of Coca-Cola during the 4th quarter worth $3,402,151,000. Capital International Investors increased its holdings in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter worth $500,192,000. Finally, Franklin Resources Inc. increased its holdings in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. UBS Group increased their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.00.

Coca-Cola Price Performance

NYSE KO opened at $71.76 on Tuesday. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $308.89 billion, a PE ratio of 29.05, a P/E/G ratio of 3.79 and a beta of 0.46. The company’s 50 day simple moving average is $71.39 and its 200 day simple moving average is $67.68.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is 81.60%.

Insider Buying and Selling

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company’s stock.

Coca-Cola 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.