Global Wealth Management Investment Advisory Inc. Has $4.56 Million Stock Position in CocaCola Company (The) $KO

Global Wealth Management Investment Advisory Inc. cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,447 shares of the company’s stock after selling 6,732 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in CocaCola were worth $4,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KO. Vanguard Group Inc. raised its position in shares of CocaCola by 0.3% in the 1st 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 increased its stake in CocaCola by 52.7% in 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 raised its holdings in CocaCola by 6.2% in the first 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 purchasing an additional 1,794,561 shares during the period. Amundi boosted its position in shares of CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing 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 valued at $1,508,657,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other CocaCola news, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $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. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on KO shares. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Bank of America lifted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler increased their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and an average target price of $78.43.

CocaCola Stock Up 2.2%

Shares of CocaCola stock opened at $70.61 on Friday. The firm has a market cap of $303.75 billion, a PE ratio of 23.38, a P/E/G ratio of 3.57 and a beta of 0.43. The business’s 50 day simple moving average is $67.75 and its 200 day simple moving average is $69.53. 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.

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

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

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.