Financial Gravity Companies Inc. Buys Shares of 33,787 CocaCola Company (The) $KO

Financial Gravity Companies Inc. bought a new position in CocaCola Company (The) (NYSE:KO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,787 shares of the company’s stock, valued at approximately $2,390,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in shares of CocaCola during the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 purchasing an additional 360 shares during the period. Ridgewood Investments LLC grew its position in 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. GFG Capital LLC bought a new position in shares of CocaCola during the 2nd quarter worth about $34,000. Finally, MMA Asset Management LLC acquired a new position in shares of CocaCola during the second quarter valued at about $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on KO shares. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus target price of $78.43.

CocaCola Stock Performance

Shares of NYSE:KO opened at $71.13 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The business’s fifty day moving average price is $68.01 and its two-hundred day moving average price is $69.49. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market capitalization of $305.98 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth 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 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. As a group, analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed 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 annualized dividend and a 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 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.