Kelman Lazarov Inc. Makes New $203,000 Investment in CocaCola Company (The) $KO

Kelman Lazarov Inc. bought a new position in shares of CocaCola Company (The) (NYSE:KO) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,872 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds also recently bought and sold shares of KO. Brighton Jones LLC boosted its stake in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its stake in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the period. GAMMA Investing LLC boosted its stake in CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock worth $5,961,000 after buying an additional 13,261 shares during the period. ORG Partners LLC boosted its stake in CocaCola by 89.5% during the first quarter. ORG Partners LLC now owns 6,390 shares of the company’s stock worth $458,000 after buying an additional 3,018 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in CocaCola during the first quarter worth about $217,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. JPMorgan Chase & Co. increased 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. Wells Fargo & Company lowered their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $76.69.

CocaCola Stock Up 1.3%

Shares of CocaCola stock opened at $68.45 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a 50 day moving average of $67.84 and a 200 day moving average of $69.72. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $11.40 billion during the quarter. As a group, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared 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 is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is currently 72.34%.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by corporate insiders.

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.