Sage Mountain Advisors LLC Increases Stock Holdings in CocaCola Company (The) $KO

Sage Mountain Advisors LLC lifted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,490 shares of the company’s stock after acquiring an additional 1,467 shares during the period. Sage Mountain Advisors LLC’s holdings in CocaCola were worth $1,874,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the first quarter worth approximately $25,000. 1248 Management LLC purchased a new position in CocaCola in the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its position in 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 buying an additional 360 shares during the last quarter. Ridgewood Investments LLC grew its position in 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 buying an additional 285 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in CocaCola in the 2nd quarter valued at $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

NYSE:KO opened at $69.74 on Friday. The firm has a market cap of $300.13 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average is $67.81 and its two-hundred day moving average is $69.73. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s payout ratio is 67.55%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday. Piper Sandler raised their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola has an average rating of “Buy” and a consensus target price of $78.31.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is owned by company insiders.

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.