Cooper Financial Group Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Cooper Financial Group boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.4% during the fourth quarter, Holdings Channel reports. The firm owned 17,070 shares of the company’s stock after acquiring an additional 1,472 shares during the quarter. Cooper Financial Group’s holdings in Coca-Cola were worth $1,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in Coca-Cola in the second quarter worth $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $43,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Coca-Cola during the third quarter valued at about $58,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $61.68 on Tuesday. The stock has a market capitalization of $265.70 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The stock’s 50 day simple moving average is $62.84 and its 200 day simple moving average is $66.48. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KO. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.60.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by insiders.

Coca-Cola 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.