CocaCola Company (The) $KO Shares Purchased by Sienna Gestion

Sienna Gestion boosted its stake in CocaCola Company (The) (NYSE:KO) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,794 shares of the company’s stock after purchasing an additional 8,928 shares during the period. Sienna Gestion’s holdings in CocaCola were worth $5,800,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in CocaCola in the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted 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 valued at $26,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted its position in CocaCola by 148.4% in 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 last quarter. GFG Capital LLC purchased a new position in CocaCola in the 2nd quarter valued at about $34,000. Finally, MMA Asset Management LLC purchased a new position in CocaCola in the 2nd quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KO shares. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. TD Cowen upped their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. 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, BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola Stock Performance

Shares of KO stock opened at $68.53 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company’s 50-day simple moving average is $67.71 and its 200-day simple moving average is $69.58. The stock has a market capitalization of $294.79 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 3.57 and a beta of 0.43.

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

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

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.