CocaCola Company (The) $KO Shares Purchased by JT Stratford LLC

JT Stratford LLC lifted its holdings in CocaCola Company (The) (NYSE:KO) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,872 shares of the company’s stock after acquiring an additional 165 shares during the quarter. JT Stratford LLC’s holdings in CocaCola were worth $1,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sumitomo Mitsui Financial Group Inc. increased its stake in shares of CocaCola by 5.7% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 226,306 shares of the company’s stock worth $16,208,000 after acquiring an additional 12,225 shares during the period. Andina Capital Management LLC acquired a new stake in shares of CocaCola in the first quarter worth $220,000. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of CocaCola by 50.9% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,217 shares of the company’s stock worth $517,000 after acquiring an additional 2,434 shares during the period. Colonial Trust Advisors increased its stake in shares of CocaCola by 1.1% in the first quarter. Colonial Trust Advisors now owns 187,980 shares of the company’s stock worth $13,463,000 after acquiring an additional 1,998 shares during the period. Finally, Financial Advisors Network Inc. acquired a new stake in shares of CocaCola in the first quarter worth $385,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

KO opened at $69.15 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a market cap of $297.60 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.64 and a beta of 0.44. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm’s fifty day simple moving average is $69.97 and its two-hundred day simple moving average is $70.24.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business 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%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. UBS Group lowered their price target on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reissued an “overweight” rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $77.21.

Insider Activity

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

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.