NorthRock Partners LLC Acquires 2,141 Shares of CocaCola Company (The) $KO

NorthRock Partners LLC increased its position in CocaCola Company (The) (NYSE:KO) by 4.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,458 shares of the company’s stock after buying an additional 2,141 shares during the quarter. NorthRock Partners LLC’s holdings in CocaCola were worth $3,595,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KO. Nuveen LLC bought a new stake in CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP lifted its position in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Boston Partners bought a new stake in CocaCola in the 1st quarter worth approximately $642,183,000. Raymond James Financial Inc. lifted its position in CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after buying an additional 3,810,752 shares during the last quarter. Finally, Amundi lifted its position in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of KO stock opened at $67.05 on Monday. The stock has a market cap of $288.55 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.49 and a beta of 0.43. The business’s fifty day moving average is $68.06 and its 200 day moving average is $69.84. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio is presently 72.34%.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. Wells Fargo & Company lowered their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price of $76.93.

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.