CCLA Investment Management Grows Position in The Coca-Cola Company (NYSE:KO)

CCLA Investment Management boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,015,129 shares of the company’s stock after purchasing an additional 179,251 shares during the period. Coca-Cola makes up approximately 2.0% of CCLA Investment Management’s portfolio, making the stock its 15th biggest holding. CCLA Investment Management’s holdings in Coca-Cola were worth $128,657,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Gilbert & Cook Inc. lifted its stake in shares of Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares in the last quarter. Accretive Wealth Partners LLC lifted its stake in shares of Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after purchasing an additional 351 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in shares of Coca-Cola by 13.9% in the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after purchasing an additional 1,182 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Coca-Cola by 72.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock valued at $1,034,000 after purchasing an additional 7,521 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Coca-Cola by 10.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock valued at $507,000 after purchasing an additional 820 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $71.80 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average price is $68.65 and its two-hundred day moving average price is $64.13. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The stock has a market capitalization of $309.31 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KO. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Insider Activity

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 974,715 shares of company stock valued at $579,704,927. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.