Wellspring Financial Advisors LLC Buys 1,415 Shares of CocaCola Company (The) $KO

Wellspring Financial Advisors LLC raised its stake in CocaCola Company (The) (NYSE:KO) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,850 shares of the company’s stock after acquiring an additional 1,415 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in CocaCola were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Requisite Capital Management LLC lifted its stake in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares during the last quarter. Paulson Wealth Management Inc. lifted its position in shares of CocaCola by 2.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after buying an additional 149 shares during the last quarter. Summitry LLC grew its stake in shares of CocaCola by 1.9% during the 2nd quarter. Summitry LLC now owns 7,865 shares of the company’s stock worth $556,000 after acquiring an additional 149 shares during the period. Frisch Financial Group Inc. increased its holdings in CocaCola by 2.5% in the 1st quarter. Frisch Financial Group Inc. now owns 6,145 shares of the company’s stock worth $443,000 after acquiring an additional 150 shares during the last quarter. Finally, GDS Wealth Management raised its stake in CocaCola by 1.8% in the 1st quarter. GDS Wealth Management now owns 8,591 shares of the company’s stock valued at $615,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of NYSE KO opened at $71.96 on Tuesday. The stock’s 50-day simple moving average is $69.15 and its two-hundred day simple moving average is $69.56. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $309.56 billion, a P/E ratio of 23.83, a P/E/G ratio of 3.57 and a beta of 0.43. 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 (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. TD Cowen increased their target price on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Transactions at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the sale, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction 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. This trade represents a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 225,252 shares of company stock worth $15,953,007. Company insiders own 0.97% of the company’s stock.

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.