VCI Wealth Management LLC Takes $1.12 Million Position in CocaCola Company (The) $KO

VCI Wealth Management LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,950 shares of the company’s stock, valued at approximately $1,124,000.

Other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in CocaCola during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. Headlands Technologies LLC purchased a new stake in shares of CocaCola in the second quarter valued at approximately $26,000. GFG Capital LLC acquired a new position in CocaCola during the second quarter worth $34,000. Finally, MMA Asset Management LLC purchased a new position in CocaCola in the second quarter worth $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 31,625 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 in the last three months. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company upped their target price 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. TD Cowen lifted their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus target price of $79.08.

CocaCola Stock Up 0.2%

Shares of NYSE KO opened at $69.99 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm’s 50 day moving average price is $70.48 and its 200 day moving average price is $69.42. The firm has a market cap of $301.07 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39. 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 (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 return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion during the quarter. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

CocaCola Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.