Milestone Asset Management LLC Acquires New Holdings in CocaCola Company (The) $KO

Milestone Asset Management LLC acquired a new stake in CocaCola Company (The) (NYSE:KO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,594 shares of the company’s stock, valued at approximately $254,000.

Several other hedge funds have also recently bought and sold shares of the company. New Republic Capital LLC lifted its position in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after purchasing an additional 139 shares during the last quarter. Alteri Wealth LLC lifted its position in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after purchasing an additional 140 shares during the last quarter. Requisite Capital Management LLC lifted its position in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares during the last quarter. BXM Wealth LLC lifted its position in CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock valued at $253,000 after purchasing an additional 144 shares during the last quarter. Finally, MTM Investment Management LLC lifted its position in CocaCola by 0.3% in the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock valued at $3,637,000 after purchasing an additional 144 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction on Friday, October 24th. The shares were purchased 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 in the company, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

Shares of KO opened at $68.70 on Wednesday. The firm’s 50 day moving average is $67.71 and its 200-day moving average is $69.59. The stock has a market capitalization of $295.51 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.57 and a beta of 0.43. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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. The company 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%. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is currently 67.55%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. 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. Finally, Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola 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.