Strategic Wealth Investment Group LLC increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,812 shares of the company's stock after buying an additional 26,935 shares during the period. Coca-Cola accounts for about 1.9% of Strategic Wealth Investment Group LLC's holdings, making the stock its 15th largest holding. Strategic Wealth Investment Group LLC's holdings in Coca-Cola were worth $12,274,000 as of its most recent filing with the Securities & Exchange Commission.
.png "Strategic Wealth Investment Group LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)") |
| Strategic Wealth Investment Group LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO) |
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Freedom Wealth Alliance LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $25,000. Venturi Wealth Management LLC purchased a new stake in Coca-Cola during the 1st quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $30,000. KB Financial Partners LLC purchased a new stake in Coca-Cola during the 1st quarter valued at $31,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company's stock valued at $31,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 68.96% of the company's stock.
Analyst Rating Changes
Several research firms have recently weighed in on KO. Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, July 28th. Royal Bank of Canada increased its price target on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. StockNews.com initiated coverage of Coca-Cola in a report on Thursday, August 17th. They set a "buy" rating on the stock. Wedbush raised its target price on Coca-Cola from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Thursday, July 27th. Finally, JPMorgan Chase & Co. raised their target price on Coca-Cola from $67.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.33.
Insider Activity
In other news, CEO James Quincey sold 92,029 shares of the firm's stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $25,707,497.14. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. In related news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $58.09, for a total value of $5,345,964.61. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $25,707,497.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Murphy sold 156,290 shares of Coca-Cola stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the completion of the transaction, the chief financial officer now owns 228,830 shares of the company's stock, valued at approximately $14,210,343. The disclosure for this sale can be found here. Insiders sold a total of 319,393 shares of company stock worth $19,467,980 over the last 90 days. Corporate insiders own 1.00% of the company's stock.
Coca-Cola Price Performance
NYSE:KO opened at $57.60 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14, and a debt-to-equity ratio of 1.29. The business's 50-day simple moving average is $60.30 and its two-hundred-day simple moving average is $61.18. The stock has a market cap of $249.08 billion, a PE ratio of 23.70, a P/E/G ratio of 3.38, and a beta of 0.55. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $64.99.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analysts' expectations of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.19%. Coca-Cola's payout ratio is 75.72%.
About Coca-Cola (Free Report)
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.
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