Thompson Davis & CO. Inc. Invests $1.24 Million in CocaCola Company (The) $KO

Thompson Davis & CO. Inc. bought a new stake in shares of CocaCola Company (The) (NYSE:KO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,492 shares of the company’s stock, valued at approximately $1,238,000.

Several other large investors have also added to or reduced their stakes in the stock. 1248 Management LLC purchased a new stake in shares of CocaCola in the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in CocaCola by 5,142.9% in the second 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 during the period. Ridgewood Investments LLC boosted its position in 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 acquiring an additional 285 shares in the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. Finally, MMA Asset Management LLC purchased a new position in shares of CocaCola in the 2nd quarter valued at approximately $34,000. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Down 0.4%

Shares of NYSE:KO opened at $71.23 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock’s fifty day moving average price is $67.89 and its 200-day moving average price is $69.50. The company has a market cap of $306.41 billion, a P/E ratio of 23.59, a PEG ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

CocaCola (NYSE:KO) last posted its 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 for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on KO shares. UBS Group decreased 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. TD Cowen lifted their price target 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. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Bank of America raised their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $78.43.

Insider Buying and Selling

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The stock was 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 approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.97% of the company’s stock.

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.