3,380 Shares in CocaCola Company (The) $KO Acquired by Insight Wealth Partners LLC

Insight Wealth Partners LLC acquired a new position in CocaCola Company (The) (NYSE:KO) in the second quarter, Holdings Channel reports. The firm acquired 3,380 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the 1st quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in CocaCola in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its position in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in CocaCola in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KO shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, CocaCola has a consensus 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 CocaCola 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 transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is owned by company insiders.

CocaCola Stock Down 0.3%

CocaCola stock opened at $69.74 on Friday. The company has a market capitalization of $300.13 billion, a P/E ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. The firm’s fifty day simple moving average is $67.81 and its 200-day simple moving average is $69.73. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share 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%. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 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.