Accuvest Global Advisors Raises Stake in CocaCola Company (The) $KO

Accuvest Global Advisors raised its position in shares of CocaCola Company (The) (NYSE:KO) by 136.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,198 shares of the company’s stock after purchasing an additional 33,003 shares during the quarter. CocaCola accounts for about 2.6% of Accuvest Global Advisors’ investment portfolio, making the stock its 15th largest position. Accuvest Global Advisors’ holdings in CocaCola were worth $4,047,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KO. 1248 Management LLC purchased a new position in CocaCola during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC purchased a new position in CocaCola during the second 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 approximately $42,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Trading Down 0.1%

Shares of KO opened at $68.94 on Friday. The company’s fifty day moving average is $67.73 and its 200 day moving average is $69.67. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market capitalization of $296.56 billion, a PE ratio of 22.83, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Sell-side analysts expect 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. Investors of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Insider Buying and Selling

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction 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 owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Finally, Evercore ISI reissued 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. According to MarketBeat, the company 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.