Sierra Capital LLC Has $678,000 Position in CocaCola Company (The) (NYSE:KO)

Sierra Capital LLC increased its position in shares of CocaCola Company (The) (NYSE:KO) by 13.2% during the 1st quarter, HoldingsChannel reports. The fund owned 9,470 shares of the company’s stock after purchasing an additional 1,101 shares during the quarter. Sierra Capital LLC’s holdings in CocaCola were worth $678,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Norges Bank acquired a new stake in CocaCola in the 4th quarter valued at $3,402,151,000. Capital International Investors grew its stake in 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 buying an additional 12,222,885 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of CocaCola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of CocaCola by 8,419.4% in the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock valued at $426,927,000 after purchasing an additional 5,891,034 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of CocaCola by 119.0% in the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company’s stock valued at $588,871,000 after purchasing an additional 5,139,352 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. UBS Group lifted their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.27.

CocaCola Stock Performance

KO opened at $70.98 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The company’s fifty day moving average price is $71.06 and its two-hundred day moving average price is $68.70. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $305.52 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 3.74 and a beta of 0.45.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. On average, analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated 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 transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. 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.