Ellis Investment Partners LLC Increases Stock Holdings in CocaCola Company (The) $KO

Ellis Investment Partners LLC raised its stake in CocaCola Company (The) (NYSE:KO) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,199 shares of the company’s stock after acquiring an additional 421 shares during the period. Ellis Investment Partners LLC’s holdings in CocaCola were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KO. Nuveen LLC purchased a new position in shares of CocaCola in the 1st quarter valued at approximately $1,508,657,000. Wellington Management Group LLP grew its stake in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Boston Partners purchased a new position in shares of CocaCola in the 1st quarter valued at approximately $642,183,000. Raymond James Financial Inc. grew its stake in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Amundi grew its stake in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Up 1.0%

CocaCola stock opened at $67.05 on Monday. 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 Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $288.55 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The stock’s 50 day moving average price is $68.06 and its 200 day moving average price is $69.84.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given 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 was Monday, September 15th. CocaCola’s payout ratio is presently 72.34%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their price target 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 restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% 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.