Andina Capital Management LLC Buys Shares of 3,071 CocaCola Company (The) $KO

Andina Capital Management LLC bought a new stake in shares of CocaCola Company (The) (NYSE:KO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,071 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Vanguard Group Inc. boosted its position in shares of CocaCola by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP raised its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. Northern Trust Corp lifted its position in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Nuveen LLC acquired a new stake in CocaCola during the 1st quarter worth about $1,508,657,000. Finally, Fayez Sarofim & Co lifted its position in CocaCola by 6.7% during the 4th quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company’s stock worth $1,148,609,000 after acquiring an additional 1,155,538 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

CocaCola Stock Performance

NYSE KO opened at $69.15 on Tuesday. The stock has a 50-day simple moving average of $69.97 and a two-hundred day simple moving average of $70.24. The firm has a market capitalization of $297.60 billion, a P/E ratio of 24.52, a PEG ratio of 3.64 and a beta of 0.44. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 EPS. CocaCola’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. UBS Group lowered their price target on CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $77.21.

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.