Addison Advisors LLC Buys 1,798 Shares of CocaCola Company (The) $KO

Addison Advisors LLC increased its stake in shares of CocaCola Company (The) (NYSE:KO) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,227 shares of the company’s stock after buying an additional 1,798 shares during the quarter. Addison Advisors LLC’s holdings in CocaCola were worth $724,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Nuveen LLC bought a new position in shares of CocaCola during the first quarter valued at $1,508,657,000. Wellington Management Group LLP grew its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new stake in shares of CocaCola during the 1st quarter worth about $642,183,000. Raymond James Financial Inc. lifted its holdings in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Amundi lifted its holdings in CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on KO shares. Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Piper Sandler increased their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, TD Cowen boosted their price objective on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus price target of $78.43.

CocaCola Price Performance

Shares of KO stock opened at $70.61 on Monday. The firm has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $67.75 and a 200 day moving average price of $69.51.

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. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Insider Buying and Selling at CocaCola

In related news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the 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 directly owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

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.