CocaCola Company (The) $KO Stock Holdings Increased by May Hill Capital LLC

May Hill Capital LLC raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 20.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,562 shares of the company’s stock after acquiring an additional 1,131 shares during the period. May Hill Capital LLC’s holdings in CocaCola were worth $464,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KO. Nuveen LLC bought a new stake in CocaCola during the 1st quarter valued at $1,508,657,000. Wellington Management Group LLP raised its stake in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in CocaCola during the 1st quarter valued at $642,183,000. Raymond James Financial Inc. raised its stake in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after acquiring an additional 3,810,752 shares in the last quarter. Finally, Amundi raised its stake in CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 0.5%

KO opened at $70.07 on Tuesday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s fifty day moving average is $67.83 and its 200-day moving average is $69.74. The company has a market capitalization of $301.43 billion, a PE ratio of 23.20, a P/E/G ratio of 3.64 and a beta of 0.43.

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

CocaCola Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s 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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Piper Sandler boosted their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.