Meridian Wealth Management LLC Raises Stock Holdings in CocaCola Company (The) $KO

Meridian Wealth Management LLC increased its holdings in CocaCola Company (The) (NYSE:KO) by 30.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,578 shares of the company’s stock after acquiring an additional 9,802 shares during the quarter. Meridian Wealth Management LLC’s holdings in CocaCola were worth $2,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC boosted its holdings in CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 buying an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CocaCola in the second quarter valued at approximately $22,443,000. Roundview Capital LLC grew its holdings in CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after acquiring an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA raised its position in CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after acquiring an additional 85,950 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KO shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Piper Sandler boosted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating 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 stock a “buy” rating in a report on Friday, November 7th. Finally, Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus price target of $78.43.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is currently owned by insiders.

CocaCola Stock Performance

NYSE KO opened at $71.13 on Friday. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38. The business has a fifty day moving average of $68.01 and a 200-day moving average of $69.49. The stock has a market cap of $305.98 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

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

CocaCola Dividend Announcement

The company also recently announced 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 of this dividend 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.