OFI Invest Asset Management Acquires 32,541 Shares of CocaCola Company (The) $KO

OFI Invest Asset Management increased its holdings in CocaCola Company (The) (NYSE:KO) by 6.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 555,410 shares of the company’s stock after purchasing an additional 32,541 shares during the period. OFI Invest Asset Management’s holdings in CocaCola were worth $39,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Nuveen LLC purchased a new stake in CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP lifted 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 purchasing an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new stake in CocaCola in the 1st quarter worth approximately $642,183,000. Raymond James Financial Inc. lifted its stake in CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi lifted its stake in CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on KO shares. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lowered their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $76.93.

CocaCola Price Performance

KO stock opened at $67.05 on Friday. The firm has a market cap of $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 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. The firm’s fifty day moving average is $68.06 and its 200 day moving average is $69.85.

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. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction on 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 sale, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

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.