Rydar Equities Inc. Invests $1.96 Million in CocaCola Company (The) $KO

Rydar Equities Inc. acquired a new position in shares of CocaCola Company (The) (NYSE:KO) in the second quarter, HoldingsChannel.com reports. The firm acquired 27,684 shares of the company’s stock, valued at approximately $1,959,000. CocaCola makes up about 1.5% of Rydar Equities Inc.’s holdings, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. 1248 Management LLC acquired a new position in CocaCola during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of CocaCola by 5,142.9% during the 2nd 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. Headlands Technologies LLC acquired a new stake in shares of CocaCola in the 2nd quarter valued at approximately $26,000. GFG Capital LLC bought a new position in shares of CocaCola in the second quarter valued at $34,000. Finally, MMA Asset Management LLC acquired a new position in CocaCola during the second quarter worth $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Up 2.0%

Shares of KO opened at $70.51 on Monday. The firm has a market cap of $303.29 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s 50-day simple moving average is $69.85 and its 200 day simple moving average is $69.47.

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

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 2.9%. CocaCola’s payout ratio is 67.55%.

Analyst Ratings Changes

KO has been the subject of a number of recent analyst reports. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. UBS Group reiterated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Piper Sandler upped their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $79.08.

Insider Transactions at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Max R. Levchin purchased 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were acquired 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 trade represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 225,252 shares of company stock worth $15,953,007. 0.90% of the stock is currently owned by company insiders.

CocaCola Company 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.