Cetera Investment Advisers Grows Stock Position in CocaCola Company (The) $KO

Cetera Investment Advisers lifted its stake in shares of CocaCola Company (The) (NYSE:KO) by 4.7% during the second quarter, HoldingsChannel.com reports. The fund owned 1,257,655 shares of the company’s stock after buying an additional 56,914 shares during the quarter. Cetera Investment Advisers’ holdings in CocaCola were worth $88,979,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in shares of CocaCola in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its stake in CocaCola by 5,142.9% in the 2nd 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 during the last quarter. Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. MMA Asset Management LLC purchased a new stake in shares of CocaCola in the second quarter valued at about $34,000. Finally, GFG Capital LLC purchased a new stake in CocaCola in the second quarter valued at $34,000. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 0.1%

KO stock opened at $71.13 on Friday. 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 cap of $305.98 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The firm’s 50-day simple moving average is $68.01 and its 200 day simple moving average is $69.49. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company 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, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

Insiders Place Their Bets

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’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 approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several research reports. TD Cowen increased their price target 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. Piper Sandler increased their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $78.43.

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.