Granite Harbor Advisors Inc. Buys 612 Shares of CocaCola Company (The) $KO

Granite Harbor Advisors Inc. increased its position in shares of CocaCola Company (The) (NYSE:KO) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,526 shares of the company’s stock after acquiring an additional 612 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in CocaCola were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KO. Vanguard Group Inc. raised its position in CocaCola by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after buying an additional 1,114,422 shares during the last quarter. Northern Trust Corp boosted its position in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the last quarter. Nuveen LLC bought a new position in shares of CocaCola during the 1st quarter worth approximately $1,508,657,000. Fayez Sarofim & Co raised its holdings in shares of CocaCola by 6.7% in the fourth quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company’s stock valued at $1,148,609,000 after purchasing an additional 1,155,538 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of CocaCola by 5.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company’s stock worth $1,155,499,000 after purchasing an additional 866,773 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Up 0.5%

Shares of NYSE KO opened at $69.92 on Monday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock’s fifty day moving average is $70.02 and its 200 day moving average is $70.20. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market capitalization of $300.91 billion, a P/E ratio of 24.79, a PEG ratio of 3.64 and a beta of 0.44.

CocaCola (NYSE:KO) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. During the same period in the previous year, the company earned $0.84 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KO. 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 report on Wednesday, July 23rd. Morgan Stanley restated an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. 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. Finally, UBS Group decreased their target price on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $77.21.

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.