CocaCola Company (The) $KO Shares Bought by Maple Capital Management Inc.

Maple Capital Management Inc. grew its stake in CocaCola Company (The) (NYSE:KO) by 15.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,061 shares of the company’s stock after purchasing an additional 1,197 shares during the period. Maple Capital Management Inc.’s holdings in CocaCola were worth $641,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in CocaCola in the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. MMA Asset Management LLC acquired a new position in CocaCola in the 2nd quarter worth about $34,000. Finally, GFG Capital LLC purchased a new position in CocaCola during the second quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. TD Cowen increased their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Bank of America lifted their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Barclays restated 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 assigned a Buy rating to the company. According to MarketBeat.com, CocaCola has an average rating of “Buy” and an average price target of $78.43.

CocaCola Stock Performance

NYSE:KO opened at $71.59 on Wednesday. The company has a market cap of $307.97 billion, a P/E ratio of 23.71, a P/E/G ratio of 3.57 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company’s 50-day moving average price is $67.84 and its 200-day moving average price is $69.49. 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 (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid 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 2.8%. CocaCola’s payout ratio is 67.55%.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Max R. Levchin bought 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.97% of the stock is owned by corporate insiders.

CocaCola 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.