CocaCola Company (The) (NYSE:KO) Shares Purchased by GAM Holding AG

GAM Holding AG boosted its position in CocaCola Company (The) (NYSE:KO) by 50.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,392 shares of the company’s stock after buying an additional 30,155 shares during the quarter. GAM Holding AG’s holdings in CocaCola were worth $6,474,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Voleon Capital Management LP acquired a new position in shares of CocaCola in the 4th quarter valued at approximately $2,513,000. Clark Capital Management Group Inc. raised its position in shares of CocaCola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after buying an additional 3,920 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of CocaCola by 8.1% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock worth $652,767,000 after buying an additional 783,161 shares during the last quarter. Finally, StoneX Group Inc. increased its stake in shares of CocaCola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock worth $3,224,000 after buying an additional 23,009 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Down 0.5%

KO opened at $68.84 on Friday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock has a market cap of $296.32 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.63 and a beta of 0.46. The stock’s 50 day moving average price is $71.50 and its 200 day moving average price is $68.03.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s payout ratio is 81.60%.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Royal Bank Of Canada boosted their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, Cfra Research upgraded CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CocaCola has an average rating of “Buy” and an average target price of $76.00.

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.