Max Levchin Purchases 7,061 Shares of CocaCola (NYSE:KO) Stock

CocaCola Company (The) (NYSE:KO) Director Max Levchin bought 7,061 shares of CocaCola stock in a transaction dated Thursday, October 23rd. The shares were bought at an average cost of $70.13 per share, for a total transaction of $495,187.93. Following the completion of the transaction, the director owned 7,061 shares of the company’s stock, valued at approximately $495,187.93. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CocaCola Price Performance

NYSE KO opened at $70.23 on Wednesday. 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 firm’s 50 day moving average price is $67.84 and its 200-day moving average price is $69.73. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $302.09 billion, a PE ratio of 23.25, a P/E/G ratio of 3.66 and a beta of 0.43.

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

CocaCola Dividend Announcement

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 paid a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Analyst Ratings Changes

KO has been the topic of a number of recent research reports. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Piper Sandler raised their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $78.31.

Institutional Trading of CocaCola

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KO. New Republic Capital LLC raised its position in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC grew its holdings in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after acquiring an additional 140 shares during the last quarter. Requisite Capital Management LLC grew its holdings in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after acquiring an additional 142 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock worth $1,439,000 after acquiring an additional 143 shares during the last quarter. Finally, MBA Advisors LLC boosted its stake in shares of CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 70.26% 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.