CocaCola Company (The) (NYSE:KO) Position Increased by Fortis Group Advisors LLC

Fortis Group Advisors LLC grew its holdings in CocaCola Company (The) (NYSE:KO) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,817 shares of the company’s stock after purchasing an additional 903 shares during the quarter. Fortis Group Advisors LLC’s holdings in CocaCola were worth $488,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at $216,000. Voleon Capital Management LP bought a new stake in shares of CocaCola during the fourth quarter worth $2,513,000. Cornerstone Wealth Management LLC boosted its position in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after acquiring an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after buying an additional 204,681 shares during the period. Finally, StoneX Group Inc. boosted its holdings in CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock worth $3,224,000 after acquiring an additional 23,009 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on KO. UBS Group raised their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada raised 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $76.71.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president directly owned 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer directly owned 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. Company insiders own 0.97% of the company’s stock.

CocaCola Trading Up 2.0%

Shares of KO stock opened at $70.63 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 capitalization of $303.99 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.63 and a beta of 0.45. 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 stock has a 50-day simple moving average of $70.73 and a 200 day simple moving average of $69.01.

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

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.89%. CocaCola’s dividend payout ratio is currently 81.60%.

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.