Southern Capital Advisors LLC Invests $216,000 in CocaCola Company (The) (NYSE:KO)

Southern Capital Advisors LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,015 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Voleon Capital Management LP purchased a new position in shares of CocaCola during the 4th quarter valued at $2,513,000. Cornerstone Wealth Management LLC lifted its stake in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after buying an additional 204,681 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its stake in shares of CocaCola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after buying an additional 783,161 shares in the last quarter. Finally, StoneX Group Inc. lifted its stake in shares of CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after buying an additional 23,009 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Piper Sandler boosted their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $76.00.

Insider Transactions at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. Insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $69.77 on Tuesday. The company’s 50-day moving average price is $71.45 and its 200-day moving average price is $68.16. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The company has a market cap of $300.31 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

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.