Flagship Harbor Advisors LLC Boosts Stock Position in CocaCola Company (The) $KO

Flagship Harbor Advisors LLC increased its holdings in CocaCola Company (The) (NYSE:KO) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,690 shares of the company’s stock after purchasing an additional 205 shares during the period. Flagship Harbor Advisors LLC’s holdings in CocaCola were worth $2,384,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC grew its stake in CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after buying an additional 4,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CocaCola by 6.2% in the 1st 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 buying an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CocaCola during the 2nd quarter worth approximately $22,443,000. Banque Pictet & Cie SA increased its stake in shares of CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after buying an additional 85,950 shares during the period. Finally, Roundview Capital LLC increased its stake in 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 purchasing an additional 2,923 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Performance

Shares of KO opened at $68.30 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The business’s fifty day moving average price is $67.79 and its 200 day moving average price is $69.71. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $293.82 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued 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 3.0%. CocaCola’s payout ratio is currently 67.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, CocaCola currently has an average rating of “Buy” and an average target price of $78.31.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the 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 in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% 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.