Ecofi Investissements SA Makes New Investment 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 2nd quarter, Holdings Channel.com reports. The fund purchased 4,700 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds have also modified their holdings of the company. Regal Investment Advisors LLC lifted its position in shares of Coca-Cola by 3.8% in the second quarter. Regal Investment Advisors LLC now owns 87,024 shares of the company’s stock valued at $5,539,000 after acquiring an additional 3,193 shares in the last quarter. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter valued at approximately $27,000. Invst LLC lifted its holdings in Coca-Cola by 5.2% in the 2nd quarter. Invst LLC now owns 33,324 shares of the company’s stock worth $2,109,000 after purchasing an additional 1,645 shares in the last quarter. Second Line Capital LLC boosted its stake in Coca-Cola by 18.5% in the 2nd quarter. Second Line Capital LLC now owns 7,810 shares of the company’s stock worth $501,000 after purchasing an additional 1,221 shares during the period. Finally, Wallace Advisory Group LLC grew its holdings in Coca-Cola by 4.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 7,446 shares of the company’s stock valued at $474,000 after buying an additional 315 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola 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 completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on KO. Morgan Stanley boosted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report 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 data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Up 0.5 %

NYSE KO opened at $71.79 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The firm has a market capitalization of $309.27 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.97 and a beta of 0.60. The company has a fifty day moving average of $69.82 and a two-hundred day moving average of $64.77.

Coca-Cola (NYSE:KO) last released its quarterly earnings results 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 net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared 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 is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. 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.