Stablepoint Partners LLC Boosts Position in CocaCola Company (The) $KO

Stablepoint Partners LLC grew its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,249 shares of the company’s stock after buying an additional 1,367 shares during the quarter. CocaCola accounts for 1.4% of Stablepoint Partners LLC’s portfolio, making the stock its 12th largest position. Stablepoint Partners LLC’s holdings in CocaCola were worth $8,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after acquiring an additional 6,241,163 shares in the last quarter. Norges Bank acquired a new stake in CocaCola during the 2nd quarter valued at $3,846,270,000. Wellington Management Group LLP increased its stake in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in CocaCola by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after buying an additional 285,794 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 225,252 shares of company stock valued at $15,953,007 in the last ninety days. Insiders own 0.90% of the company’s stock.

CocaCola Stock Up 0.4%

NYSE:KO opened at $73.14 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average of $69.03 and a 200-day moving average of $69.55. The firm has a market capitalization of $314.62 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.8%. CocaCola’s dividend payout ratio is 67.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Wells Fargo & Company upped their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.43.

CocaCola Profile

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.