Richmond Investment Services LLC Boosts Stock Position in CocaCola Company (The) $KO

Richmond Investment Services LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 129.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,679 shares of the company’s stock after acquiring an additional 3,764 shares during the period. Richmond Investment Services LLC’s holdings in CocaCola were worth $473,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. Perigon Wealth Management LLC grew its position in CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after buying an additional 4,469 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CocaCola during the 2nd quarter valued at about $22,443,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Finally, Roundview Capital LLC lifted its stake in shares of CocaCola by 9.1% in the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after acquiring an additional 2,923 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. 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. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Bank of America boosted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $78.43.

CocaCola Trading Up 0.6%

Shares of NYSE:KO opened at $73.02 on Thursday. The firm has a fifty day moving average of $68.77 and a two-hundred day moving average of $69.50. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market capitalization of $314.11 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share 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. On average, equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Insiders Place Their Bets

In related news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares in the company, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 225,252 shares of company stock valued at $15,953,007 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

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.