Horizon Family Wealth Inc. Makes New Investment in CocaCola Company (The) (NYSE:KO)

Horizon Family Wealth Inc. bought a new position in shares of CocaCola Company (The) (NYSE:KO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,967 shares of the company’s stock, valued at approximately $857,000. CocaCola comprises about 0.6% of Horizon Family Wealth Inc.’s investment portfolio, making the stock its 28th largest holding.

Several other large investors also recently bought and sold shares of the stock. Northern Trust Corp boosted its holdings in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after acquiring an additional 3,811,756 shares during the last quarter. Capital International Investors boosted its holdings in shares of CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CocaCola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock valued at $1,529,537,000 after acquiring an additional 3,791,300 shares during the last quarter. Fayez Sarofim & Co boosted its holdings in shares of CocaCola by 6.7% in the 4th quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company’s stock valued at $1,148,609,000 after acquiring an additional 1,155,538 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of CocaCola by 14.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,769,958 shares of the company’s stock valued at $1,106,336,000 after acquiring an additional 2,284,429 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of NYSE KO opened at $68.95 on Tuesday. The firm has a 50-day simple moving average of $70.27 and a 200-day simple moving average of $69.73. The stock has a market capitalization of $296.74 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. On average, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KO. Morgan Stanley reissued an “overweight” rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, CocaCola has an average rating of “Buy” and an average price target of $77.21.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

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.