Delta Investment Management LLC Buys 644 Shares of CocaCola Company (The) $KO

Delta Investment Management LLC increased its stake in shares of CocaCola Company (The) (NYSE:KO) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,456 shares of the company’s stock after purchasing an additional 644 shares during the quarter. Delta Investment Management LLC’s holdings in CocaCola were worth $528,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP boosted its stake in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CocaCola by 6.2% in 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 acquiring an additional 1,794,561 shares during the last quarter. Amundi boosted its stake in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC bought a new position in CocaCola in the first quarter valued at approximately $1,508,657,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KO shares. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Saturday. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. 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 presently has an average rating of “Buy” and a consensus price target of $78.31.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Down 0.3%

Shares of NYSE KO opened at $69.74 on Monday. The company’s fifty day moving average is $67.81 and its 200-day moving average is $69.74. The stock has a market cap of $300.12 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 3.64 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. 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 announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given 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 currently 67.55%.

About CocaCola

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.