CocaCola Company (The) $KO Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC boosted its holdings in CocaCola Company (The) (NYSE:KO) by 232.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,110,327 shares of the company’s stock after acquiring an additional 775,906 shares during the period. CocaCola accounts for about 2.7% of Synergy Asset Management LLC’s portfolio, making the stock its 8th largest holding. Synergy Asset Management LLC’s holdings in CocaCola were worth $75,118,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in shares of CocaCola in the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of CocaCola during the 2nd quarter worth about $26,000. GFG Capital LLC purchased a new stake in CocaCola in the 2nd quarter valued at about $34,000. Finally, MMA Asset Management LLC acquired a new position in CocaCola in the second quarter valued at about $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 225,252 shares of company stock worth $15,953,007 over the last quarter. 0.97% of the stock is currently owned by insiders.

CocaCola Trading Down 1.1%

Shares of KO stock opened at $69.11 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a 50 day moving average price of $70.49 and a 200 day moving average price of $69.35. The stock has a market capitalization of $297.30 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 3.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) 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. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Wells Fargo & Company lifted their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen boosted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, UBS Group restated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. One investment 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.com, the company has an average rating of “Buy” and an average price target of $79.08.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.