Adage Capital Partners GP L.L.C. Purchases 462,600 Shares of CocaCola Company (The) $KO

Adage Capital Partners GP L.L.C. boosted its position in CocaCola Company (The) (NYSE:KO) by 15.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,547,882 shares of the company’s stock after purchasing an additional 462,600 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.08% of CocaCola worth $251,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in KO. 1248 Management LLC purchased a new position in CocaCola during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted 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 valued at $26,000 after acquiring an additional 360 shares during the last quarter. GFG Capital LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. MMA Asset Management LLC purchased a new position in shares of CocaCola during the second quarter worth about $34,000. Finally, Winnow Wealth LLC bought a new position in shares of CocaCola in the second quarter worth approximately $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 over the last three months. Corporate insiders own 0.97% of the company’s stock.

CocaCola Price Performance

KO stock opened at $70.51 on Friday. 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 Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s fifty day moving average is $69.85 and its 200 day moving average is $69.50. The firm has a market cap of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.84 and a beta of 0.39.

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

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Wells Fargo & Company increased their target price on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $79.08.

CocaCola 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.