Austin Private Wealth LLC Raises Stock Position in CocaCola Company (The) $KO

Austin Private Wealth LLC increased its stake in CocaCola Company (The) (NYSE:KO) by 13.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,996 shares of the company’s stock after buying an additional 964 shares during the period. Austin Private Wealth LLC’s holdings in CocaCola were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the first quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in CocaCola in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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. Ridgewood Investments LLC boosted its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares during the last quarter. Finally, GFG Capital LLC bought a new position in CocaCola in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 0.2%

Shares of KO stock opened at $70.23 on Wednesday. The company has a market capitalization of $302.09 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.66 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company’s fifty day moving average price is $67.84 and its 200-day moving average price is $69.73. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

CocaCola (NYSE:KO) last announced 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 for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Piper Sandler increased their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and an average price target of $78.31.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

About CocaCola

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.