Drive Wealth Management LLC Buys 2,322 Shares of CocaCola Company (The) $KO

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

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi raised its position in shares of 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 purchasing an additional 2,922,619 shares during the period. Finally, Nuveen LLC bought a new position in shares of CocaCola in the first quarter valued at about $1,508,657,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company lowered their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.69.

CocaCola Stock Up 1.3%

KO stock opened at $68.45 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market capitalization 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 business’s fifty day moving average price is $67.84 and its two-hundred day moving average price is $69.69. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion for the quarter. On average, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by company insiders.

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.