Acorn Creek Capital LLC Invests $204,000 in CocaCola Company (The) (NYSE:KO)

Acorn Creek Capital LLC acquired a new position in CocaCola Company (The) (NYSE:KO) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,853 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of CocaCola during the fourth quarter worth $3,402,151,000. Capital International Investors raised its position in shares of CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CocaCola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of CocaCola during the fourth quarter worth $500,192,000. Finally, Franklin Resources Inc. raised its position in shares of CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by corporate insiders.

CocaCola Stock Performance

Shares of NYSE KO opened at $68.84 on Monday. The business’s 50-day moving average price is $71.50 and its two-hundred day moving average price is $68.11. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46.

CocaCola (NYSE:KO) last released 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 company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Cfra Research raised CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CocaCola has an average rating of “Buy” and an average price target of $76.00.

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.