GSA Capital Partners LLP Purchases 12,087 Shares of CocaCola Company (The) (NYSE:KO)

GSA Capital Partners LLP boosted its position in shares of CocaCola Company (The) (NYSE:KO) by 53.3% during the first quarter, Holdings Channel.com reports. The fund owned 34,749 shares of the company’s stock after acquiring an additional 12,087 shares during the quarter. CocaCola accounts for 0.2% of GSA Capital Partners LLP’s investment portfolio, making the stock its 29th largest holding. GSA Capital Partners LLP’s holdings in CocaCola were worth $2,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola during the first quarter valued at approximately $216,000. Voleon Capital Management LP bought a new stake in shares of CocaCola during the fourth quarter valued at approximately $2,513,000. Cornerstone Wealth Management LLC raised its position in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after buying an additional 204,681 shares during the last quarter. Finally, StoneX Group Inc. raised its position in shares of CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after buying an additional 23,009 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $77.21.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer directly owned 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.90% of the stock is owned by company insiders.

CocaCola Stock Down 1.5%

NYSE KO opened at $68.10 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average of $70.56 and a two-hundred day moving average of $69.50. The firm has a market capitalization of $293.12 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 3.60 and a beta of 0.45. 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 data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s payout ratio is 72.34%.

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.