Chancellor Financial Group WB LP Buys 2,723 Shares of CocaCola Company (The) $KO

Chancellor Financial Group WB LP grew its stake in CocaCola Company (The) (NYSE:KO) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,222 shares of the company’s stock after acquiring an additional 2,723 shares during the quarter. CocaCola accounts for 0.8% of Chancellor Financial Group WB LP’s portfolio, making the stock its 26th biggest holding. Chancellor Financial Group WB LP’s holdings in CocaCola were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of KO. 1248 Management LLC purchased a new stake in CocaCola during the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its holdings 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 buying an additional 360 shares during the last quarter. Ridgewood Investments LLC lifted its stake in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. Finally, MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

KO stock opened at $70.61 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a market cap of $303.75 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The stock’s fifty day moving average price is $67.75 and its 200-day moving average price is $69.56.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current 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 $0.51 dividend. 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 67.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KO. Bank of America boosted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.43.

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.