CocaCola Company (The) $KO Shares Purchased by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. lifted its stake in CocaCola Company (The) (NYSE:KO) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 176,397 shares of the company’s stock after purchasing an additional 1,968 shares during the quarter. CocaCola comprises about 2.5% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 18th largest holding. First Fiduciary Investment Counsel Inc.’s holdings in CocaCola were worth $12,480,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at approximately $25,000. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at approximately $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC grew its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KO shares. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lowered their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group lowered their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $76.93.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 completion of the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

CocaCola Trading Up 1.0%

KO opened at $67.05 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a fifty day simple moving average of $68.06 and a 200-day simple moving average of $69.85. The firm has a market cap of $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $11.40 billion during the quarter. On average, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s dividend payout ratio (DPR) is 72.34%.

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.