MJT & Associates Financial Advisory Group Inc. acquired a new position in CocaCola Company (The) (NYSE:KO – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 881 shares of the company’s stock, valued at approximately $63,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter valued at $25,000. Garde Capital Inc. purchased a new position in CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. grew its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC grew its stake 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 acquiring an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC grew its stake in CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $36,000 after acquiring an additional 409 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on KO shares. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus target price of $77.21.
CocaCola Stock Up 0.1%
Shares of CocaCola stock opened at $69.18 on Monday. The firm’s 50 day moving average price is $70.64 and its 200-day moving average price is $69.45. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $297.75 billion, a P/E ratio of 24.53, a PEG ratio of 3.60 and a beta of 0.45.
CocaCola (NYSE:KO – Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.
CocaCola Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio is presently 72.34%.
Insiders Place Their Bets
In other news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president directly owned 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.90% of the company’s stock.
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.
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