Stegent Equity Advisors Inc. Boosts Holdings in CocaCola Company (The) $KO

Stegent Equity Advisors Inc. lifted its stake in CocaCola Company (The) (NYSE:KO) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,472 shares of the company’s stock after purchasing an additional 893 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in CocaCola were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the 1st quarter worth about $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in shares of CocaCola in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Saturday. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday. Wells Fargo & Company lifted their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $78.31.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.3%

CocaCola stock opened at $69.74 on Friday. The business has a 50-day simple moving average of $67.81 and a two-hundred day simple moving average of $69.74. The company has a market cap of $300.13 billion, a P/E ratio of 23.09, a P/E/G ratio of 3.64 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

About CocaCola

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.