Drive Wealth Management LLC Has $936,000 Stock Holdings in CocaCola Company (The) $KO

Drive Wealth Management LLC grew its position in shares of CocaCola Company (The) (NYSE:KO) by 21.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,135 shares of the company’s stock after purchasing an additional 2,322 shares during the quarter. Drive Wealth Management LLC’s holdings in CocaCola were worth $936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the first quarter worth approximately $216,000. Perigon Wealth Management LLC lifted its stake in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 worth $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Roundview Capital LLC lifted its stake in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after acquiring an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA increased its holdings in CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after purchasing an additional 85,950 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Up 1.3%

Shares of NYSE:KO opened at $68.45 on Monday. The stock has a market cap of $294.60 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business’s 50 day moving average is $67.84 and its 200 day moving average is $69.69.

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 company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 72.34%.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KO shares. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and an average price target of $76.69.

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.