Wealthfront Advisers LLC Has $27.91 Million Position in CocaCola Company (The) $KO

Wealthfront Advisers LLC grew its holdings in CocaCola Company (The) (NYSE:KO) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 394,485 shares of the company’s stock after buying an additional 31,213 shares during the quarter. Wealthfront Advisers LLC’s holdings in CocaCola were worth $27,910,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Vanguard Group Inc. increased its stake in CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Wellington Management Group LLP boosted its holdings in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi raised its holdings in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after buying an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $1,508,657,000. 70.26% of the stock is owned by institutional investors.

CocaCola Trading Down 0.3%

KO opened at $69.74 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market capitalization of $300.13 billion, a PE ratio of 23.09, a PEG ratio of 3.64 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $67.81 and a two-hundred day moving average price of $69.74.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 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%. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. TD Cowen increased their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $78.31.

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.