Choreo LLC Has $10.96 Million Stake in The Coca-Cola Company (NYSE:KO)

Choreo LLC grew its position in The Coca-Cola Company (NYSE:KO) by 96.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,200 shares of the company’s stock after purchasing an additional 85,245 shares during the quarter. Choreo LLC’s holdings in Coca-Cola were worth $10,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC grew its holdings in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after purchasing an additional 89,139 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $3,255,000. Kingsview Wealth Management LLC raised its stake in shares of Coca-Cola by 17.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock worth $8,213,000 after acquiring an additional 21,030 shares during the last quarter. Swedbank AB acquired a new position in Coca-Cola during the 1st quarter worth $102,604,000. Finally, Angeles Investment Advisors LLC boosted its holdings in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after acquiring an additional 374 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KO shares. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley lifted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Truist Financial boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $71.20 on Monday. The stock has a market cap of $306.86 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The company’s fifty day moving average is $67.48 and its 200 day moving average is $63.58. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The disclosure for this sale can be found here. Insiders sold a total of 1,074,910 shares of company stock worth $585,972,318 over the last three months. 0.97% of the stock is owned by company 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.