Climber Capital SA Has $315,000 Stake in CocaCola Company (The) (NYSE:KO)

Climber Capital SA raised its stake in CocaCola Company (The) (NYSE:KO) by 9.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,400 shares of the company’s stock after buying an additional 385 shares during the period. CocaCola comprises 1.9% of Climber Capital SA’s holdings, making the stock its 22nd largest position. Climber Capital SA’s holdings in CocaCola were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. acquired a new position in CocaCola in the fourth quarter valued at about $27,000. Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in shares of CocaCola during the fourth quarter worth about $31,000. Mizuho Securities Co. Ltd. raised its position in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the period. Finally, REAP Financial Group LLC raised its position in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler raised their price target on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Cfra Research raised CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, UBS Group increased their price objective on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $76.00.

CocaCola Stock Up 1.4%

KO stock opened at $69.77 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average price of $71.45 and a two-hundred day moving average price of $68.16. The company has a market cap of $300.31 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 3.61 and a beta of 0.46. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm 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 business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola’s dividend payout ratio is 81.60%.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

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.