Sage Mountain Advisors LLC Raises Stock Position in CocaCola Company (The) $KO

Sage Mountain Advisors LLC increased its stake in CocaCola Company (The) (NYSE:KO) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,490 shares of the company’s stock after acquiring an additional 1,467 shares during the quarter. Sage Mountain Advisors LLC’s holdings in CocaCola were worth $1,874,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KO. Brighton Jones LLC grew its holdings in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock worth $5,961,000 after buying an additional 13,261 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in shares of CocaCola by 42.7% during the first quarter. Pure Financial Advisors LLC now owns 8,081 shares of the company’s stock worth $579,000 after buying an additional 2,418 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of CocaCola by 25.7% during the first quarter. Sequoia Financial Advisors LLC now owns 196,331 shares of the company’s stock worth $14,061,000 after buying an additional 40,178 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 0.3%

Shares of KO opened at $69.74 on Friday. The stock has a market capitalization of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 1.21. The company’s 50-day simple moving average is $67.81 and its 200-day simple moving average is $69.73.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KO shares. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average target price of $78.31.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by corporate insiders.

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.