First Horizon Advisors Inc. Grows Stock Holdings in CocaCola Company (The) $KO

First Horizon Advisors Inc. lifted its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.0% in the second quarter, HoldingsChannel.com reports. The fund owned 511,352 shares of the company’s stock after acquiring an additional 10,097 shares during the quarter. CocaCola accounts for approximately 0.9% of First Horizon Advisors Inc.’s portfolio, making the stock its 26th largest position. First Horizon Advisors Inc.’s holdings in CocaCola were worth $36,178,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in KO. 1248 Management LLC bought a new position in CocaCola in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the last quarter. GFG Capital LLC purchased a new position in CocaCola during the second quarter worth $34,000. Finally, MMA Asset Management LLC bought a new position in CocaCola during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 1.1%

Shares of NYSE:KO opened at $68.70 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $295.51 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.57 and a beta of 0.43. The stock’s fifty day simple moving average is $67.71 and its 200-day simple moving average is $69.59. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

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

CocaCola Dividend Announcement

The company also recently announced 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. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. TD Cowen lifted 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. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $78.31.

Insider Transactions at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the company’s 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 transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $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 the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.90% of the company’s stock.

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.