Burney Co. Has $4.05 Million Holdings in CocaCola Company (The) $KO

Burney Co. lessened its position in CocaCola Company (The) (NYSE:KO) by 4.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 57,241 shares of the company’s stock after selling 2,387 shares during the period. Burney Co.’s holdings in CocaCola were worth $4,050,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. 1248 Management LLC purchased a new position in shares of CocaCola during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the last quarter. MMA Asset Management LLC purchased a new position in shares of CocaCola during the second quarter valued at approximately $34,000. Finally, GFG Capital LLC purchased a new position in shares of CocaCola during the second quarter valued at approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. 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 report on Thursday, September 11th. TD Cowen lifted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, BNP Paribas reiterated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola Stock Performance

Shares of CocaCola stock opened at $68.01 on Tuesday. The business’s fifty day simple moving average is $67.72 and its 200 day simple moving average is $69.62. The firm has a market capitalization of $292.55 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business 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%. As a group, analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

Insider Buying and Selling at CocaCola

In other news, Director Max R. Levchin bought 7,206 shares of the stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

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.