Goelzer Investment Management Inc. Buys 33,003 Shares of CocaCola Company (The) $KO

Goelzer Investment Management Inc. raised its position in shares of CocaCola Company (The) (NYSE:KO) by 69.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 80,511 shares of the company’s stock after purchasing an additional 33,003 shares during the quarter. Goelzer Investment Management Inc.’s holdings in CocaCola were worth $5,339,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KO. Marion Wealth Management lifted its position in shares of CocaCola by 2.2% during the 3rd quarter. Marion Wealth Management now owns 23,965 shares of the company’s stock valued at $1,589,000 after acquiring an additional 519 shares during the period. CHICAGO TRUST Co NA increased its position in shares of CocaCola by 0.9% during the third quarter. CHICAGO TRUST Co NA now owns 31,861 shares of the company’s stock worth $2,113,000 after acquiring an additional 283 shares in the last quarter. Diversified Enterprises LLC boosted its stake in CocaCola by 1.0% during the 3rd quarter. Diversified Enterprises LLC now owns 14,656 shares of the company’s stock valued at $972,000 after purchasing an additional 150 shares during the last quarter. Spinnaker Investment Group LLC raised its stake in shares of CocaCola by 9.0% in the third quarter. Spinnaker Investment Group LLC now owns 9,030 shares of the company’s stock worth $599,000 after purchasing an additional 744 shares during the last quarter. Finally, Thomasville National Bank lifted its stake in CocaCola by 1.5% during the 3rd quarter. Thomasville National Bank now owns 119,845 shares of the company’s stock valued at $7,948,000 after acquiring an additional 1,728 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president directly owned 223,330 shares in the company, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 225,252 shares of company stock valued at $15,953,007 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group reissued a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. TD Cowen raised their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Wells Fargo & Company raised their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $79.08.

CocaCola Trading Down 0.4%

NYSE KO opened at $70.10 on Monday. The stock has a market cap of $301.53 billion, a P/E ratio of 23.21, a P/E/G ratio of 3.89 and a beta of 0.39. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock’s fifty day moving average price is $70.26 and its 200-day moving average price is $69.43.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s payout ratio is 67.55%.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.