Cornerstone Advisors LLC Boosts Position in CocaCola Company (The) $KO

Cornerstone Advisors LLC grew its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 292,300 shares of the company’s stock after acquiring an additional 8,300 shares during the period. Cornerstone Advisors LLC’s holdings in CocaCola were worth $20,680,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen LLC purchased a new stake in CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP grew its position in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners bought a new position in shares of CocaCola in the first quarter worth $642,183,000. Raymond James Financial Inc. raised its position in shares of CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after buying an additional 3,810,752 shares in the last quarter. Finally, Amundi boosted its stake in CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after buying an additional 2,922,619 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Up 0.1%

KO stock opened at $71.13 on Friday. The company has a market capitalization of $305.98 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. 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 moving average price is $68.01 and its two-hundred day moving average price is $69.49.

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

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Analyst Upgrades and Downgrades

KO has been the topic of several recent analyst reports. Piper Sandler raised their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. UBS Group cut 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. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One investment 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.com, the stock presently has an average rating of “Buy” and an average price target of $78.43.

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.