Stegent Equity Advisors Inc. Boosts Stock Position in CocaCola Company (The) $KO

Stegent Equity Advisors Inc. grew its stake in shares of CocaCola Company (The) (NYSE:KO) by 16.0% during the second quarter, Holdings Channel reports. The institutional investor owned 6,472 shares of the company’s stock after buying an additional 893 shares during the period. Stegent Equity Advisors Inc.’s holdings in CocaCola were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the 1st quarter valued at about $25,000. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its position in shares of 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 buying an additional 285 shares in the last quarter. Finally, GFG Capital LLC purchased a new position in shares of CocaCola during the 2nd quarter valued at about $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on KO. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday. BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola Stock Down 0.3%

Shares of KO opened at $69.74 on Friday. The stock has a market capitalization of $300.13 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The business’s 50 day simple moving average is $67.81 and its 200-day simple moving average is $69.74. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO) last issued its quarterly earnings data 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 return on equity of 43.62% and a net margin of 27.34%. As a group, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is 67.55%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by company 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.