Nicholas Wealth LLC. Boosts Holdings in CocaCola Company (The) $KO

Nicholas Wealth LLC. raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 23.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,316 shares of the company’s stock after acquiring an additional 8,492 shares during the quarter. CocaCola makes up about 1.3% of Nicholas Wealth LLC.’s investment portfolio, making the stock its 16th biggest position. Nicholas Wealth LLC.’s holdings in CocaCola were worth $3,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after acquiring an additional 6,241,163 shares during the last quarter. Norges Bank bought a new position in shares of CocaCola during the second quarter valued at approximately $3,846,270,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CocaCola by 6.2% during 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Legal & General Group Plc raised its stake in CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock worth $1,930,170,000 after buying an additional 285,794 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in CocaCola by 10.9% during the second quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock worth $1,791,962,000 after buying an additional 2,497,585 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares in the company, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 225,252 shares of company stock worth $15,953,007 over the last quarter. 0.90% of the stock is owned by insiders.

CocaCola Stock Down 0.1%

KO opened at $70.08 on Wednesday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock has a market capitalization of $301.47 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 3.90 and a beta of 0.39. The business’s 50-day simple moving average is $70.52 and its 200-day simple moving average is $69.35.

CocaCola (NYSE:KO) last announced 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%. Analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KO. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Wells Fargo & Company raised their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, UBS Group restated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $79.08.

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.