CocaCola Company (The) $KO Shares Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC increased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 30.2% in the second quarter, Holdings Channel reports. The firm owned 26,441 shares of the company’s stock after buying an additional 6,130 shares during the quarter. Biltmore Family Office LLC’s holdings in CocaCola were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. Auto Owners Insurance Co raised its position in CocaCola by 1,475.1% during the 2nd quarter. Auto Owners Insurance Co now owns 550,200 shares of the company’s stock worth $38,927,000 after buying an additional 515,268 shares during the last quarter. Austin Private Wealth LLC raised its position in CocaCola by 13.7% during the 2nd quarter. Austin Private Wealth LLC now owns 7,996 shares of the company’s stock worth $566,000 after buying an additional 964 shares during the last quarter. Redmond Asset Management LLC raised its position in CocaCola by 2.1% during the 2nd quarter. Redmond Asset Management LLC now owns 12,036 shares of the company’s stock worth $852,000 after buying an additional 250 shares during the last quarter. Zhang Financial LLC raised its position in CocaCola by 3.6% during the 2nd quarter. Zhang Financial LLC now owns 10,683 shares of the company’s stock worth $756,000 after buying an additional 370 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in CocaCola by 1.7% during the 2nd quarter. New York Life Investment Management LLC now owns 527,169 shares of the company’s stock worth $37,297,000 after buying an additional 8,979 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.31.

CocaCola Stock Performance

Shares of KO opened at $70.23 on Wednesday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market cap of $302.09 billion, a P/E ratio of 23.25, a PEG ratio of 3.66 and a beta of 0.43. The company has a 50-day moving average of $67.84 and a two-hundred day moving average of $69.73. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

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

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date 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 currently 67.55%.

Insider Activity

In other 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 sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

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.