Thoroughbred Financial Services LLC Increases Stock Holdings in CocaCola Company (The) (NYSE:KO)

Thoroughbred Financial Services LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 20.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 48,190 shares of the company’s stock after acquiring an additional 8,243 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in CocaCola were worth $3,451,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Sage Financial Management Group Inc. purchased a new stake in shares of CocaCola during the first quarter worth approximately $216,000. Voleon Capital Management LP acquired a new stake in CocaCola during the 4th quarter worth $2,513,000. Cornerstone Wealth Management LLC grew its holdings in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after buying an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after buying an additional 204,681 shares during the last quarter. Finally, Investors Research Corp lifted its stake in shares of CocaCola by 21.5% in the first quarter. Investors Research Corp now owns 10,419 shares of the company’s stock worth $746,000 after buying an additional 1,846 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 0.1%

Shares of KO opened at $68.95 on Tuesday. The company’s 50-day moving average price is $70.27 and its 200 day moving average price is $69.73. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market cap of $296.74 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44.

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

CocaCola Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’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 directly owned 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owned 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

CocaCola 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.