Twin City Private Wealth LLC Purchases 2,741 Shares of CocaCola Company (The) $KO

Twin City Private Wealth LLC boosted its position in CocaCola Company (The) (NYSE:KO) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,056 shares of the company’s stock after acquiring an additional 2,741 shares during the quarter. CocaCola accounts for 1.3% of Twin City Private Wealth LLC’s holdings, making the stock its 28th largest holding. Twin City Private Wealth LLC’s holdings in CocaCola were worth $1,642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Syverson Strege & Co acquired a new stake in CocaCola in the second quarter valued at approximately $326,000. AlphaStar Capital Management LLC acquired a new stake in CocaCola in the second quarter valued at approximately $2,397,000. Creative Financial Designs Inc. ADV boosted its position in CocaCola by 5.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 24,268 shares of the company’s stock valued at $1,717,000 after buying an additional 1,217 shares in the last quarter. Lockheed Martin Investment Management Co. boosted its position in CocaCola by 134.9% in the second quarter. Lockheed Martin Investment Management Co. now owns 502,385 shares of the company’s stock valued at $35,544,000 after buying an additional 288,490 shares in the last quarter. Finally, AMG National Trust Bank boosted its position in CocaCola by 1.9% in the second quarter. AMG National Trust Bank now owns 131,102 shares of the company’s stock valued at $9,275,000 after buying an additional 2,409 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were 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. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’s 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 transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Piper Sandler lifted their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen lifted their price target on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, BNP Paribas reiterated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One investment 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.com, the stock has an average rating of “Buy” and a consensus target price of $78.31.

CocaCola Price Performance

Shares of NYSE:KO opened at $68.94 on Friday. The firm has a market cap of $296.56 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s fifty day moving average is $67.73 and its 200-day moving average is $69.68.

CocaCola (NYSE:KO) last released 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%. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

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.