Novus Advisors LLC Takes $210,000 Position in CocaCola Company (The) (NYSE:KO)

Novus Advisors LLC acquired a new stake in CocaCola Company (The) (NYSE:KO) during the 1st quarter, HoldingsChannel reports. The firm acquired 2,933 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in CocaCola in the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares during the period. Ridgewood Investments LLC boosted its holdings in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the period. Finally, REAP Financial Group LLC boosted its holdings in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares in the company, valued at $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 is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated 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 transaction, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on KO. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. 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. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned 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.

CocaCola Price Performance

NYSE:KO opened at $68.87 on Friday. The company has a 50-day moving average of $70.33 and a 200-day moving average of $69.64. The company has a market capitalization of $296.39 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.58 and a beta of 0.44. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. As a group, equities research analysts anticipate 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 issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

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.