Phoenix Financial Ltd. Boosts Stock Position in CocaCola Company (The) $KO

Phoenix Financial Ltd. increased its holdings in CocaCola Company (The) (NYSE:KO) by 13.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 45,726 shares of the company’s stock after buying an additional 5,461 shares during the period. Phoenix Financial Ltd.’s holdings in CocaCola were worth $3,242,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of KO. WESPAC Advisors SoCal LLC increased its holdings in shares of CocaCola by 33.8% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 91,467 shares of the company’s stock worth $6,471,000 after buying an additional 23,126 shares during the last quarter. Drive Wealth Management LLC grew its position in CocaCola by 21.5% in the second quarter. Drive Wealth Management LLC now owns 13,135 shares of the company’s stock worth $936,000 after acquiring an additional 2,322 shares in the last quarter. Canvas Wealth Advisors LLC increased its stake in CocaCola by 8.5% during the second quarter. Canvas Wealth Advisors LLC now owns 4,332 shares of the company’s stock worth $295,000 after acquiring an additional 338 shares during the last quarter. Crewe Advisors LLC raised its position in CocaCola by 34.3% during the second quarter. Crewe Advisors LLC now owns 2,183 shares of the company’s stock valued at $154,000 after purchasing an additional 558 shares during the period. Finally, FLC Capital Advisors lifted its stake in shares of CocaCola by 46.7% in the 2nd quarter. FLC Capital Advisors now owns 4,761 shares of the company’s stock valued at $337,000 after purchasing an additional 1,516 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

Shares of NYSE:KO opened at $71.22 on Wednesday. The firm’s 50 day simple moving average is $67.80 and its 200-day simple moving average is $69.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market cap of $306.51 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion during the quarter. As a group, equities analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio is presently 72.34%.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was 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 approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. UBS Group cut their price target 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. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus target price of $77.23.

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.