PFG Advisors Increases Stake in CocaCola Company (The) $KO

PFG Advisors boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 23.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,144 shares of the company’s stock after buying an additional 3,291 shares during the quarter. PFG Advisors’ holdings in CocaCola were worth $1,213,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Perigon Wealth Management LLC lifted its holdings in shares of CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after buying an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CocaCola in the second quarter worth $22,443,000. Roundview Capital LLC lifted its holdings in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after acquiring an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA lifted its holdings in CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after acquiring an additional 85,950 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The stock was 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 of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KO. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Wells Fargo & Company upped their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One 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, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Stock Performance

NYSE:KO opened at $70.57 on Tuesday. 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 capitalization of $303.56 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The firm has a 50-day moving average price of $67.78 and a two-hundred day moving average price of $69.49. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO) last announced 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 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. As a group, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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

CocaCola 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.