Foundations Investment Advisors LLC Boosts Holdings in CocaCola Company (The) $KO

Foundations Investment Advisors LLC increased its position in shares of CocaCola Company (The) (NYSE:KO) by 40.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 209,388 shares of the company’s stock after purchasing an additional 59,871 shares during the quarter. Foundations Investment Advisors LLC’s holdings in CocaCola were worth $14,814,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KO. Advisors Capital Management LLC raised its holdings in CocaCola by 52.9% in the 2nd quarter. Advisors Capital Management LLC now owns 720,097 shares of the company’s stock valued at $50,947,000 after buying an additional 249,063 shares during the period. Grandfield & Dodd LLC increased its position in shares of CocaCola by 0.4% during the second quarter. Grandfield & Dodd LLC now owns 42,461 shares of the company’s stock valued at $3,004,000 after acquiring an additional 157 shares during the last quarter. Wiser Advisor Group LLC increased its position in shares of CocaCola by 2.6% during the second quarter. Wiser Advisor Group LLC now owns 14,730 shares of the company’s stock valued at $1,042,000 after acquiring an additional 378 shares during the last quarter. Arvest Bank Trust Division raised its stake in shares of CocaCola by 2.2% in the 2nd quarter. Arvest Bank Trust Division now owns 7,814 shares of the company’s stock valued at $553,000 after acquiring an additional 170 shares during the period. Finally, Fiera Capital Corp acquired a new position in shares of CocaCola in the 2nd quarter worth approximately $462,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Performance

Shares of KO stock opened at $71.13 on Friday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 company has a market cap of $305.98 billion, a P/E ratio of 23.55, a PEG ratio of 3.57 and a beta of 0.43. The firm has a fifty day moving average price of $68.01 and a 200 day moving average price of $69.51.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 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%. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Piper Sandler raised their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. TD Cowen increased their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat, CocaCola presently has an average rating of “Buy” and an average price target of $78.43.

Insider Activity at CocaCola

In other news, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

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.