Cherokee Insurance Co Takes $290,000 Position in CocaCola Company (The) $KO

Cherokee Insurance Co acquired a new position in CocaCola Company (The) (NYSE:KO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,100 shares of the company’s stock, valued at approximately $290,000.

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of CocaCola during the 1st quarter worth $1,508,657,000. Wellington Management Group LLP grew its holdings in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new position in CocaCola during the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. raised its holdings in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi lifted its position in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent research reports. TD Cowen increased their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. BNP Paribas reissued an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus price target of $78.43.

Insider Buying and Selling

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the acquisition, the director directly 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is owned by corporate insiders.

CocaCola Price Performance

Shares of KO opened at $71.57 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company’s fifty day moving average price is $67.89 and its 200-day moving average price is $69.50. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $307.87 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

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

CocaCola Announces Dividend

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

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.