Stenger Family Office LLC Takes $517,000 Position in CocaCola Company (The) $KO

Stenger Family Office LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,519 shares of the company’s stock, valued at approximately $517,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after buying an additional 4,469 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of CocaCola by 5.0% in the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock valued at $322,455,000 after buying an additional 216,752 shares in the last quarter. 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. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CocaCola in the second quarter worth $22,443,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the sale, the executive vice president directly owned 223,330 shares in the company, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 225,252 shares of company stock worth $15,953,007 over the last three months. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $69.94 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market capitalization of $300.85 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 3.91 and a beta of 0.39. The stock has a fifty day moving average of $69.49 and a two-hundred day moving average of $69.56. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

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

CocaCola Announces Dividend

The company 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 $0.51 dividend. 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%.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Bank of America raised their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Wells Fargo & Company raised their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $78.43.

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.