Cherokee Insurance Co Makes New $290,000 Investment in CocaCola Company (The) $KO

Cherokee Insurance Co purchased a new stake in shares of CocaCola Company (The) (NYSE:KO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,100 shares of the company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. New Republic Capital LLC increased its stake in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC lifted its holdings in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after purchasing an additional 140 shares in the last quarter. Requisite Capital Management LLC boosted its stake in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after purchasing an additional 142 shares during the period. SNS Financial Group LLC boosted its stake in CocaCola by 2.4% in the 1st quarter. SNS Financial Group LLC now owns 6,315 shares of the company’s stock worth $455,000 after purchasing an additional 148 shares during the period. Finally, Paulson Wealth Management Inc. grew its holdings in CocaCola by 2.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after buying an additional 149 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KO. TD Cowen upped their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Piper Sandler lifted their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average target price of $78.43.

Insider Buying and Selling

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The shares were bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. The trade was a 102.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 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 value of $947,411.64. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

NYSE KO opened at $71.57 on Thursday. The business’s 50 day moving average price is $67.89 and its 200-day moving average price is $69.50. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market cap of $307.87 billion, a P/E ratio of 23.70, 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 posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS 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 during the quarter. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

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.