Cowa LLC Buys 783 Shares of CocaCola Company (The) $KO

Cowa LLC grew its stake in shares of CocaCola Company (The) (NYSE:KO) by 7.5% in the second quarter, Holdings Channel reports. The institutional investor owned 11,178 shares of the company’s stock after purchasing an additional 783 shares during the period. Cowa LLC’s holdings in CocaCola were worth $791,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Republic Capital LLC increased its position in shares of CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC lifted its holdings in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after acquiring an additional 140 shares during the period. Requisite Capital Management LLC increased its stake in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after acquiring an additional 142 shares during the period. Paulson Wealth Management Inc. lifted its stake in CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock worth $479,000 after purchasing an additional 149 shares during the period. Finally, Summitry LLC grew its stake in shares of CocaCola by 1.9% in the 2nd quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after purchasing an additional 149 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 2.5%

Shares of NYSE:KO opened at $72.96 on Friday. 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 stock has a market cap of $313.85 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a 50 day moving average of $68.39 and a 200-day moving average of $69.49. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm 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%. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KO shares. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Piper Sandler boosted 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. TD Cowen increased their target price on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $78.43.

Insider Buying and Selling

In related news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Max R. Levchin bought 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 over the last quarter. Insiders own 0.97% of the company’s stock.

CocaCola 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.