Freedom Investment Management Inc. Acquires 435 Shares of CocaCola Company (The) $KO

Freedom Investment Management Inc. grew its holdings in shares of CocaCola Company (The) (NYSE:KO) by 6.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,998 shares of the company’s stock after purchasing an additional 435 shares during the quarter. Freedom Investment Management Inc.’s holdings in CocaCola were worth $495,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its position in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CocaCola in the second quarter valued at approximately $22,443,000. Roundview Capital LLC boosted its position in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after acquiring an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA boosted its position in shares of CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after acquiring an additional 85,950 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Trading Down 0.3%

KO stock opened at $69.74 on Friday. The company has a market capitalization of $300.13 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $69.74. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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%. As a group, analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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

Insider Activity at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 transaction, the insider directly 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 ownership of the stock. The transaction 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.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. UBS Group cut their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Saturday. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat, 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.