SouthState Corp Purchases 11,584 Shares of CocaCola Company (The) $KO

SouthState Corp lifted its position in CocaCola Company (The) (NYSE:KO) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 266,716 shares of the company’s stock after acquiring an additional 11,584 shares during the period. SouthState Corp’s holdings in CocaCola were worth $18,870,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of CocaCola in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares in the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. Finally, MMA Asset Management LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus price target of $78.31.

Insider Buying and Selling at CocaCola

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the purchase, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

Shares of KO opened at $68.53 on Thursday. The business’s fifty day simple moving average is $67.71 and its two-hundred day simple moving average is $69.58. The company has a current ratio of 1.21, a quick ratio of 1.00 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 company has a market cap of $294.79 billion, a price-to-earnings ratio of 22.69, a P/E/G 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 return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion for the quarter. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced 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 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) 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.