Wealthfront Advisers LLC Has $27.91 Million Position in CocaCola Company (The) $KO

Wealthfront Advisers LLC lifted its stake in CocaCola Company (The) (NYSE:KO) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 394,485 shares of the company’s stock after acquiring an additional 31,213 shares during the quarter. Wealthfront Advisers LLC’s holdings in CocaCola were worth $27,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Perigon Wealth Management LLC raised its stake in shares of CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $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 grew its stake 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 in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CocaCola in the second quarter worth approximately $22,443,000. Roundview Capital LLC raised its position in CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after acquiring an additional 2,923 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its position in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after acquiring an additional 85,950 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. TD Cowen increased their price target on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler upped 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. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a report on Saturday. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $78.31.

CocaCola Stock Performance

KO opened at $69.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $69.74. The firm has a market capitalization of $300.13 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last issued its quarterly earnings results 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%. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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 issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is 67.55%.

CocaCola Company 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.