71 West Capital Partners purchased a new stake in shares of CocaCola Company (The) (NYSE:KO – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 14,021 shares of the company’s stock, valued at approximately $980,000.
Other large investors also recently made changes to their positions in the company. Anfield Capital Management LLC increased its holdings in CocaCola by 438.8% during the fourth quarter. Anfield Capital Management LLC now owns 361 shares of the company’s stock worth $25,000 after buying an additional 294 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CocaCola during the second quarter worth about $26,000. Evolution Wealth Management Inc. increased its holdings in CocaCola by 1,081.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 390 shares of the company’s stock worth $27,000 after buying an additional 357 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in CocaCola during the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in CocaCola during the third quarter worth about $30,000. 70.26% of the stock is owned by institutional investors.
CocaCola Stock Performance
CocaCola stock opened at $80.94 on Tuesday. The firm’s 50 day simple moving average is $78.79 and its 200 day simple moving average is $75.76. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $348.24 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 3.30 and a beta of 0.35. CocaCola Company has a 1-year low of $65.35 and a 1-year high of $84.04.
CocaCola Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. CocaCola’s dividend payout ratio is 66.67%.
Insider Buying and Selling
In related news, Chairman James Quincey sold 436,296 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $80.13, for a total transaction of $34,960,398.48. Following the sale, the chairman owned 122,833 shares of the company’s stock, valued at approximately $9,842,608.29. This represents a 78.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $80.93, for a total transaction of $2,559,411.25. Following the sale, the executive vice president directly owned 223,330 shares in the company, valued at $18,074,096.90. This trade represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 899,905 shares of company stock valued at $71,832,315. Company insiders own 0.90% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on KO. Morgan Stanley set a $89.00 price objective on shares of CocaCola in a report on Wednesday, June 10th. Sanford C. Bernstein assumed coverage on shares of CocaCola in a research note on Thursday. They set a “market perform” rating and a $84.00 price target on the stock. Citigroup upped their price target on shares of CocaCola from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings upgraded shares of CocaCola from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of CocaCola from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Fifteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.
Read Our Latest Research Report on CocaCola
CocaCola News Summary
Here are the key news stories impacting CocaCola this week:
- Positive Sentiment: Analysts and market commentators continue to highlight Coca-Cola as a defensive consumer-staples name that can hold up well during inflation and market volatility, which may be attracting buyers seeking stability. Article: 4 Low-Beta Consumer Staples Stocks to Navigate Through Surging Inflation
- Positive Sentiment: Coca-Cola’s cost-saving initiatives and operating efficiencies are being credited with supporting profitability and helping offset commodity inflation, which is constructive for margins. Article: Are Coca-Cola’s Cost-Saving Initiatives Boosting Profitability?
- Positive Sentiment: Several recent articles frame KO as a reliable long-term dividend and income stock, reinforcing investor interest in the company’s steady cash-flow profile. Article: Want a Lifetime of Passive Income? Buy Coca-Cola in June and Never Sell.
- Neutral Sentiment: Market commentary also notes that KO has already run up sharply this year and hit new highs, so some investors may be pausing to reassess valuation after the rally. Article: Coca Cola at 52-Week High: Buy, Sell or Hold?
- Negative Sentiment: The latest trading-day weakness appears tied more to profit-taking and rotation within the market than to any company-specific setback, with KO pulling back while broader markets were firmer. Article: Coca-Cola (KO) Stock Falls Amid Market Uptick: What Investors Need to Know
About CocaCola
The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.
Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.
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