Mattson Financial Services LLC Invests $2.64 Million in The Coca-Cola Company (NYSE:KO)

Mattson Financial Services LLC bought a new position in The Coca-Cola Company (NYSE:KO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 41,412 shares of the company’s stock, valued at approximately $2,636,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Coca-Cola by 4.3% in the 4th quarter. Capital Research Global Investors now owns 3,796,462 shares of the company’s stock worth $223,726,000 after purchasing an additional 156,071 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Coca-Cola by 4.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 173,553 shares of the company’s stock worth $10,227,000 after buying an additional 7,879 shares during the period. Cetera Advisor Networks LLC lifted its stake in shares of Coca-Cola by 1.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 489,292 shares of the company’s stock valued at $28,834,000 after acquiring an additional 7,603 shares during the last quarter. Pinnacle West Asset Management Inc. boosted its holdings in Coca-Cola by 3.5% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 10,490 shares of the company’s stock valued at $618,000 after acquiring an additional 350 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Coca-Cola by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,581,708 shares of the company’s stock worth $328,930,000 after acquiring an additional 410,500 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which is available through this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last three months. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KO. Morgan Stanley increased their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $71.01 on Thursday. The firm’s 50 day simple moving average is $70.20 and its 200-day simple moving average is $64.98. The firm has a market cap of $305.91 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio 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.