Davis Capital Management Purchases New Stake in CocaCola Company (The) $KO

Davis Capital Management acquired a new position in shares of CocaCola Company (The) (NYSE:KO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,928 shares of the company’s stock, valued at approximately $1,985,000. CocaCola comprises approximately 1.4% of Davis Capital Management’s holdings, making the stock its 21st largest position.

A number of other large investors have also recently made changes to their positions in KO. Measured Risk Portfolios Inc. raised its holdings in shares of CocaCola by 1.9% in the 3rd quarter. Measured Risk Portfolios Inc. now owns 26,321 shares of the company’s stock worth $1,746,000 after acquiring an additional 482 shares during the last quarter. Hedeker Wealth LLC raised its stake in shares of CocaCola by 1.5% in the third quarter. Hedeker Wealth LLC now owns 18,894 shares of the company’s stock worth $1,253,000 after purchasing an additional 285 shares during the last quarter. Synergy Asset Management LLC lifted its holdings in shares of CocaCola by 232.0% in the third quarter. Synergy Asset Management LLC now owns 1,110,327 shares of the company’s stock valued at $75,118,000 after purchasing an additional 775,906 shares in the last quarter. Commonwealth Financial Services LLC boosted its position in shares of CocaCola by 12.7% during the third quarter. Commonwealth Financial Services LLC now owns 13,300 shares of the company’s stock valued at $882,000 after buying an additional 1,500 shares during the last quarter. Finally, Noble Family Wealth LLC grew its holdings in CocaCola by 44.2% during the third quarter. Noble Family Wealth LLC now owns 4,277 shares of the company’s stock worth $284,000 after buying an additional 1,310 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

NYSE KO opened at $69.11 on Friday. 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 company has a market cap of $297.30 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s 50-day simple moving average is $70.49 and its two-hundred day simple moving average is $69.35.

CocaCola (NYSE:KO) last announced its quarterly earnings results 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 net margin of 27.34% and a return on equity of 43.62%. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Buying and Selling

In related news, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 225,252 shares of company stock valued at $15,953,007 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. Piper Sandler upped 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. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Bank of America upped their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.