OmniStar Financial Group Inc. Acquires 2,503 Shares of CocaCola Company (The) $KO

OmniStar Financial Group Inc. grew its holdings in shares of CocaCola Company (The) (NYSE:KO) by 12.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,059 shares of the company’s stock after acquiring an additional 2,503 shares during the quarter. CocaCola accounts for approximately 1.2% of OmniStar Financial Group Inc.’s investment portfolio, making the stock its 26th biggest holding. OmniStar Financial Group Inc.’s holdings in CocaCola were worth $1,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Brighton Jones LLC increased its holdings 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 last quarter. Revolve Wealth Partners LLC boosted its stake in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of CocaCola during the 1st quarter valued at approximately $628,000. Fortis Group Advisors LLC increased its stake in shares of CocaCola by 15.3% during the 1st quarter. Fortis Group Advisors LLC now owns 6,817 shares of the company’s stock worth $488,000 after purchasing an additional 903 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of CocaCola by 170.9% in the 1st quarter. Jennison Associates LLC now owns 71,881 shares of the company’s stock worth $5,148,000 after purchasing an additional 45,350 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other news, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 40,390 shares of the 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 owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on KO shares. Piper Sandler increased their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. TD Cowen lifted their price objective on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on CocaCola from $75.00 to $79.00 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 sixteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Price Performance

Shares of NYSE KO opened at $71.13 on Friday. The stock has a market cap of $305.98 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 stock has a fifty day moving average of $68.01 and a 200-day moving average of $69.51.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion for the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) 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.