CocaCola Company (The) $KO Shares Purchased by Guinness Asset Management LTD

Guinness Asset Management LTD raised its position in shares of CocaCola Company (The) (NYSE:KO) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,184,783 shares of the company’s stock after acquiring an additional 46,450 shares during the period. CocaCola accounts for 4.0% of Guinness Asset Management LTD’s investment portfolio, making the stock its 10th biggest position. Guinness Asset Management LTD’s holdings in CocaCola were worth $225,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the 1st quarter valued at about $25,000. 1248 Management LLC acquired a new position in CocaCola in the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its position in 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 buying an additional 360 shares in the last quarter. Ridgewood Investments LLC boosted its stake in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the period. Finally, GFG Capital LLC purchased a new position in shares of CocaCola during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company raised their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. increased 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 analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.31.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction 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 directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

KO opened at $69.74 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market cap of $300.12 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. The stock has a 50-day moving average of $67.81 and a 200-day moving average of $69.74. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm 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%. As a group, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

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.