Americana Partners LLC Raises Stake in CocaCola Company (The) $KO

Americana Partners LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,177 shares of the company’s stock after purchasing an additional 1,906 shares during the quarter. Americana Partners LLC’s holdings in CocaCola were worth $6,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. 1248 Management LLC bought a new stake in CocaCola during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew 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 purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC grew 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 purchasing an additional 285 shares in the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the second quarter worth $34,000. Finally, MMA Asset Management LLC purchased a new stake in shares of CocaCola in the second quarter worth $34,000. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 2.2%

Shares of NYSE KO opened at $70.61 on Monday. The stock has a market capitalization of $303.75 billion, a P/E ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The firm’s 50 day simple moving average is $67.75 and its two-hundred day simple moving average is $69.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Max R. Levchin bought 7,206 shares of the stock in a transaction dated Friday, October 24th. The stock was bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. The SEC filing for this purchase provides additional information. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Bank of America lifted their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler increased their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $78.43.

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.