KPP Advisory Services LLC Grows Position in CocaCola Company (The) $KO

KPP Advisory Services LLC increased its position in CocaCola Company (The) (NYSE:KO) by 8.3% in the second quarter, HoldingsChannel reports. The firm owned 12,835 shares of the company’s stock after purchasing an additional 982 shares during the quarter. KPP Advisory Services LLC’s holdings in CocaCola were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the 1st quarter valued at approximately $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC lifted its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the period. GFG Capital LLC purchased a new position in shares of CocaCola in the 2nd quarter valued at approximately $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in CocaCola during the first quarter valued at $42,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 1.1%

CocaCola stock opened at $70.01 on Friday. The firm has a market cap of $301.32 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 3.69 and a beta of 0.43. The stock has a fifty day simple moving average of $67.82 and a two-hundred day simple moving average of $69.72. 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 1.30.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on 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 $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the subject of a number of recent research reports. UBS Group lowered their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday. Piper Sandler lifted their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday. BNP Paribas reiterated 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. lifted 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. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $78.31.

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.