CocaCola Company (The) $KO Shares Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management boosted its position in shares of CocaCola Company (The) (NYSE:KO) by 128.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,758 shares of the company’s stock after buying an additional 15,068 shares during the quarter. Neo Ivy Capital Management’s holdings in CocaCola were worth $1,893,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. Magnetar Financial LLC bought a new position in shares of CocaCola during the 2nd quarter valued at about $6,983,000. Swiss National Bank raised its holdings in shares of CocaCola by 7.2% in the 2nd quarter. Swiss National Bank now owns 12,376,000 shares of the company’s stock worth $875,602,000 after purchasing an additional 833,900 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in CocaCola by 1.4% during the second quarter. Personal CFO Solutions LLC now owns 22,153 shares of the company’s stock valued at $1,567,000 after purchasing an additional 299 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in CocaCola during the second quarter valued at approximately $7,605,000. Finally, Handelsbanken Fonder AB boosted its holdings in CocaCola by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 1,596,994 shares of the company’s stock worth $112,987,000 after buying an additional 11,581 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Up 0.2%

NYSE:KO opened at $71.25 on Friday. The business’s fifty day moving average price is $68.28 and its 200 day moving average price is $69.48. The firm has a market capitalization of $306.49 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given 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 yield of 2.9%. CocaCola’s payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value 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. This represents a 26.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Max R. Levchin bought 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KO. Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Piper Sandler increased their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Finally, Bank of America upped their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus target price of $78.43.

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.