Seven Eight Capital LP Purchases New Position in The Coca-Cola Company (NYSE:KO)

Seven Eight Capital LP acquired a new position in shares of The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,631 shares of the company’s stock, valued at approximately $995,000.

Several other hedge funds also recently modified their holdings of KO. Gilbert & Cook Inc. raised its position in Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares during the last quarter. Accretive Wealth Partners LLC raised its position in shares of Coca-Cola by 1.4% during the fourth quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after acquiring an additional 351 shares during the last quarter. Aveo Capital Partners LLC lifted its stake in shares of Coca-Cola by 13.9% during the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after acquiring an additional 1,182 shares during the period. Gryphon Financial Partners LLC increased its position in Coca-Cola by 72.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after purchasing an additional 7,521 shares during the period. Finally, Assetmark Inc. raised its holdings in Coca-Cola by 12.9% during the 4th quarter. Assetmark Inc. now owns 94,032 shares of the company’s stock worth $5,541,000 after purchasing an additional 10,727 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on KO shares. Truist Financial lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.62 on Friday. The company has a fifty day moving average price of $69.13 and a 200 day moving average price of $64.31. The firm has a market cap of $308.54 billion, a PE ratio of 28.65, a PEG ratio of 3.93 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Coca-Cola 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.