Savvy Advisors Inc. Boosts Holdings in CocaCola Company (The) $KO

Savvy Advisors Inc. raised its holdings in CocaCola Company (The) (NYSE:KO) by 13.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 36,473 shares of the company’s stock after acquiring an additional 4,379 shares during the period. Savvy Advisors Inc.’s holdings in CocaCola were worth $2,580,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of CocaCola by 6.2% during the 1st 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 in the last quarter. Amundi boosted its stake in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of CocaCola during the 1st quarter worth about $1,508,657,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. 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 note on Wednesday, October 22nd. UBS Group reduced their price target 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. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola Stock Performance

NYSE:KO opened at $68.30 on Thursday. The stock has a market capitalization of $293.82 billion, a P/E ratio of 22.62, a PEG ratio of 3.66 and a beta of 0.43. The company has a 50 day moving average price of $67.79 and a 200 day moving average price of $69.71. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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%. Equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared 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 yield of 3.0%. CocaCola’s dividend payout ratio is 67.55%.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the 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 completion of the sale, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

CocaCola Company 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.