Daymark Wealth Partners LLC Has $8.75 Million Position in CocaCola Company (The) $KO

Daymark Wealth Partners LLC reduced its holdings in CocaCola Company (The) (NYSE:KO) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,629 shares of the company’s stock after selling 1,169 shares during the period. Daymark Wealth Partners LLC’s holdings in CocaCola were worth $8,747,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KO. Nuveen LLC acquired a new stake in CocaCola in the first quarter worth $1,508,657,000. Wellington Management Group LLP raised its holdings in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. Boston Partners acquired a new stake in CocaCola in the first quarter worth $642,183,000. Raymond James Financial Inc. raised its holdings in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the period. Finally, Amundi raised its holdings in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler increased their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat, CocaCola currently has an average rating of “Buy” and an average target price of $78.31.

CocaCola Stock Up 0.2%

Shares of KO stock opened at $70.23 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.00 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. The firm’s fifty day moving average price is $67.84 and its two-hundred day moving average price is $69.73. The firm has a market capitalization of $302.09 billion, a P/E ratio of 23.25, a PEG ratio of 3.66 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion for the quarter. On average, equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid 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 payout ratio is presently 67.55%.

Insider Activity

In other news, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 completion of the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.

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.