Wedmont Private Capital Has $3.53 Million Stake in CocaCola Company (The) $KO

Wedmont Private Capital lessened its position in CocaCola Company (The) (NYSE:KO) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,900 shares of the company’s stock after selling 10,575 shares during the period. Wedmont Private Capital’s holdings in CocaCola were worth $3,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC bought a new stake in CocaCola during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC acquired a new stake in CocaCola in the second quarter valued at $26,000. GFG Capital LLC bought a new position in CocaCola during the 2nd quarter worth $34,000. Finally, MMA Asset Management LLC acquired a new position in CocaCola during the 2nd quarter worth about $34,000. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Performance

Shares of KO stock opened at $70.61 on Thursday. The firm has a 50 day moving average of $70.11 and a 200-day moving average of $69.46. The company has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 3.91 and a beta of 0.39. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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 for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. 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. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $79.08.

Insider Activity at CocaCola

In other news, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,252 shares of company stock valued at $15,953,007 over the last three months. 0.97% of the stock is currently owned by company insiders.

CocaCola Company 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.