MQS Management LLC Takes $462,000 Position in CocaCola Company (The) $KO

MQS Management LLC acquired a new position in CocaCola Company (The) (NYSE:KO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,533 shares of the company’s stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KO. MorganRosel Wealth Management LLC bought a new position in CocaCola in the first quarter worth approximately $25,000. 1248 Management LLC bought a new position in CocaCola in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its stake in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC grew its stake in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. Finally, GFG Capital LLC bought a new position in CocaCola in the second quarter worth approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of KO opened at $69.74 on Friday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a fifty day moving average price of $67.81 and a 200-day moving average price of $69.74. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The firm has a market cap of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.64 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion during the quarter. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Analyst Ratings Changes

Several research analysts recently issued reports on KO shares. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday. Wells Fargo & Company upped their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen upped their target price on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, CocaCola presently has a consensus rating of “Buy” and an average price target of $78.31.

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.