Sovereign Financial Group Inc. Purchases 171 Shares of CocaCola Company (The) $KO

Sovereign Financial Group Inc. increased its position in CocaCola Company (The) (NYSE:KO) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,908 shares of the company’s stock after purchasing an additional 171 shares during the period. Sovereign Financial Group Inc.’s holdings in CocaCola were worth $843,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in CocaCola during the 1st quarter valued at $25,000. 1248 Management LLC bought a new position in CocaCola during the 1st quarter valued at $26,000. Garde Capital Inc. bought a new position in CocaCola during the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. lifted its stake in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KO. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company decreased their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, UBS Group decreased their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $76.93.

CocaCola Trading Up 1.0%

Shares of CocaCola stock opened at $67.05 on Friday. The stock has a fifty day moving average price of $68.06 and a 200-day moving average price of $69.85. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market cap of $288.55 billion, a PE ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion during the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

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.