Copperleaf Capital LLC Acquires Shares of 2,865 CocaCola Company (The) $KO

Copperleaf Capital LLC acquired a new position in CocaCola Company (The) (NYSE:KO) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,865 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently made changes to their positions in the business. 1248 Management LLC purchased a new position in CocaCola in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 purchasing an additional 360 shares during the period. Ridgewood Investments LLC increased 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 during the last quarter. GFG Capital LLC purchased a new stake in CocaCola during the 2nd quarter valued at $34,000. Finally, MMA Asset Management LLC bought a new stake in CocaCola in the second quarter worth $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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 price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. The trade was a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,627 shares of company stock valued at $13,702,256 in the last 90 days. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wells Fargo & Company increased their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $78.43.

CocaCola Stock Performance

CocaCola stock opened at $71.26 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market capitalization of $306.52 billion, a PE ratio of 23.60, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a 50 day moving average price of $68.14 and a 200-day moving average price of $69.46. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company 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 forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend 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 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.