Clifford Swan Investment Counsel LLC Grows Position in CocaCola Company (The) $KO

Clifford Swan Investment Counsel LLC boosted its position in CocaCola Company (The) (NYSE:KO) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,659 shares of the company’s stock after buying an additional 10,073 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in CocaCola were worth $6,768,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the 1st quarter valued at approximately $25,000. 1248 Management LLC acquired a new stake in CocaCola during the first quarter worth about $26,000. 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 purchasing an additional 285 shares during the period. GFG Capital LLC bought a new position in shares of CocaCola during the second quarter worth about $34,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of CocaCola during the first quarter valued at approximately $42,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Down 0.7%

Shares of NYSE:KO opened at $70.75 on Thursday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market cap of $304.47 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 3.71 and a beta of 0.43. The firm has a 50 day simple moving average of $67.81 and a 200 day simple moving average of $69.70.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 45.63% and a net margin of 27.34%. As a group, research 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. Shareholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 72.34%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average target price of $78.00.

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.