1,447 Shares in CocaCola Company (The) (NYSE:KO) Bought by Elite Financial Inc.

Elite Financial Inc. acquired a new stake in shares of CocaCola Company (The) (NYSE:KO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,447 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in CocaCola during the 4th quarter valued at about $3,402,151,000. Northern Trust Corp increased its stake in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Capital International Investors increased its stake in shares of CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Finally, Invesco Ltd. lifted its holdings in CocaCola by 18.2% in the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock valued at $1,529,537,000 after acquiring an additional 3,791,300 shares during the period. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Up 0.4%

KO opened at $71.19 on Friday. The firm has a market capitalization of $306.42 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.74 and a beta of 0.45. The firm’s 50 day moving average is $71.08 and its 200-day moving average is $68.56. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KO. UBS Group raised their target price on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Royal Bank Of Canada raised their price target on shares of 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 research note on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus price target of $76.27.

Insider Transactions at CocaCola

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

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.