Ecofi Investissements SA Invests $275,000 in The Coca-Cola Company (NYSE:KO)

Ecofi Investissements SA purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,700 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC bought a new position in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola in the first quarter worth about $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola 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 transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale 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 dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on KO. Morgan Stanley increased their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

Shares of KO opened at $71.79 on Monday. The company has a market cap of $309.27 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.97 and a beta of 0.60. The business’s fifty day simple moving average is $69.82 and its two-hundred day simple moving average is $64.77. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

About Coca-Cola

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.