CocaCola Company (The) (NYSE:KO) is Liberty One Investment Management LLC’s 5th Largest Position

Liberty One Investment Management LLC increased its position in CocaCola Company (The) (NYSE:KO) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 464,526 shares of the company’s stock after acquiring an additional 6,659 shares during the period. CocaCola comprises approximately 3.4% of Liberty One Investment Management LLC’s holdings, making the stock its 5th largest position. Liberty One Investment Management LLC’s holdings in CocaCola were worth $33,269,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Stratos Investment Management LLC raised its stake in CocaCola by 24.5% during the 1st quarter. Stratos Investment Management LLC now owns 29,916 shares of the company’s stock valued at $2,143,000 after buying an additional 5,886 shares during the last quarter. Sierra Capital LLC raised its stake in CocaCola by 13.2% during the 1st quarter. Sierra Capital LLC now owns 9,470 shares of the company’s stock valued at $678,000 after buying an additional 1,101 shares during the last quarter. Navalign LLC increased its stake in shares of CocaCola by 1.2% in the 1st quarter. Navalign LLC now owns 24,725 shares of the company’s stock worth $1,771,000 after purchasing an additional 290 shares in the last quarter. Garrett Wealth Advisory Group LLC increased its stake in shares of CocaCola by 36.8% in the 1st quarter. Garrett Wealth Advisory Group LLC now owns 6,037 shares of the company’s stock worth $432,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Alpha Cubed Investments LLC increased its stake in shares of CocaCola by 1.6% in the 1st quarter. Alpha Cubed Investments LLC now owns 659,077 shares of the company’s stock worth $47,203,000 after purchasing an additional 10,678 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada upped their price objective on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.27.

Insider Transactions at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Performance

CocaCola stock opened at $70.98 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. 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 $305.52 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45. The company’s 50-day moving average is $71.06 and its 200 day moving average is $68.70.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

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.