Adell Harriman & Carpenter Inc. Raises Holdings in CocaCola Company (The) $KO

Adell Harriman & Carpenter Inc. lifted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 3.3% in the second quarter, HoldingsChannel reports. The firm owned 128,324 shares of the company’s stock after acquiring an additional 4,108 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in CocaCola were worth $9,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KO. 1248 Management LLC purchased a new stake in CocaCola in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its stake 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 worth $26,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC grew its stake 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 acquiring an additional 285 shares during the period. GFG Capital LLC purchased a new stake in CocaCola in the 2nd quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in CocaCola in the 1st quarter worth approximately $42,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. The trade was a 102.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

NYSE:KO opened at $68.30 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $293.82 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 3.66 and a beta of 0.43. The firm’s fifty day simple moving average is $67.79 and its 200 day simple moving average is $69.71. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

Analyst Ratings Changes

Several research firms have commented on KO. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Piper Sandler lifted their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Finally, BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to MarketBeat, CocaCola presently has an average rating of “Buy” and an average target price of $78.31.

About CocaCola

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.