Violich Capital Management Inc. Increases Stock Position in CocaCola Company (The) $KO

Violich Capital Management Inc. increased its position in CocaCola Company (The) (NYSE:KO) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,597 shares of the company’s stock after purchasing an additional 1,250 shares during the quarter. Violich Capital Management Inc.’s holdings in CocaCola were worth $3,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KO. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter worth approximately $25,000. 1248 Management LLC bought a new position in CocaCola during the first quarter valued at approximately $26,000. Garde Capital Inc. bought a new position in CocaCola during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Up 1.3%

KO opened at $68.45 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock’s fifty day simple moving average is $67.84 and its 200 day simple moving average is $69.72. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market cap of $294.60 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion for the quarter. As a group, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company cut their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.69.

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.