Financial Advisors Network Inc. Makes New $385,000 Investment in CocaCola Company (The) $KO

Financial Advisors Network Inc. bought a new position in CocaCola Company (The) (NYSE:KO) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,381 shares of the company’s stock, valued at approximately $385,000.

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola during the first quarter worth about $25,000. Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its position in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC raised 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 worth $34,000 after purchasing an additional 285 shares during the period. Finally, REAP Financial Group LLC raised its holdings in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Price Performance

Shares of KO opened at $69.92 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company’s fifty day simple moving average is $70.02 and its 200 day simple moving average is $70.20. 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 $300.91 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.64 and a beta of 0.44.

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

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given 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 presently 72.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus target price of $77.21.

Insider Buying and Selling

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

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.