SPC Financial Inc. Buys 169 Shares of CocaCola Company (The) $KO

SPC Financial Inc. boosted its holdings in CocaCola Company (The) (NYSE:KO) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,969 shares of the company’s stock after purchasing an additional 169 shares during the period. SPC Financial Inc.’s holdings in CocaCola were worth $210,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Second Half Financial Partners LLC bought a new stake in CocaCola in the second quarter worth $319,000. CWM LLC lifted its stake in CocaCola by 3.2% in the second quarter. CWM LLC now owns 564,832 shares of the company’s stock worth $39,962,000 after purchasing an additional 17,699 shares during the last quarter. OFI Invest Asset Management lifted its stake in CocaCola by 6.2% in the second quarter. OFI Invest Asset Management now owns 555,410 shares of the company’s stock worth $39,295,000 after purchasing an additional 32,541 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in CocaCola by 19.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 523,732 shares of the company’s stock worth $37,079,000 after purchasing an additional 84,674 shares during the last quarter. Finally, Sovereign Financial Group Inc. lifted its stake in CocaCola by 1.5% in the second quarter. Sovereign Financial Group Inc. now owns 11,908 shares of the company’s stock worth $843,000 after purchasing an additional 171 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BNP Paribas restated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

CocaCola Price Performance

Shares of KO opened at $67.05 on Monday. The stock has a market cap of $288.55 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. 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 Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm’s 50-day simple moving average is $68.06 and its two-hundred day simple moving average is $69.84.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio is currently 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.