Bahl & Gaynor Inc. Increases Stake in CocaCola Company (The) $KO

Bahl & Gaynor Inc. increased its stake in CocaCola Company (The) (NYSE:KO) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714,561 shares of the company’s stock after purchasing an additional 105,372 shares during the period. Bahl & Gaynor Inc.’s holdings in CocaCola were worth $121,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of 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 grew its stake in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the period. MMA Asset Management LLC purchased a new position in shares of CocaCola in the second quarter worth about $34,000. Finally, GFG Capital LLC acquired a new stake in shares of CocaCola during the second quarter worth about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

In related news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This 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 the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction 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. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 in the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Bank of America boosted their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $78.43.

CocaCola Price Performance

Shares of CocaCola stock opened at $72.96 on Friday. The firm has a market cap of $313.85 billion, a PE ratio of 24.16, a P/E/G ratio of 3.57 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve 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 business has a 50-day moving average price of $68.39 and a 200 day moving average price of $69.49.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

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.