Diversified Portfolios Inc. Buys Shares of 4,497 CocaCola Company (The) $KO

Diversified Portfolios Inc. bought a new position in shares of CocaCola Company (The) (NYSE:KO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,497 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors also recently bought and sold shares of KO. Vanguard Group Inc. grew its holdings in CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CocaCola by 52.7% in the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Amundi increased its holdings 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 buying an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of CocaCola in the 1st quarter worth $1,508,657,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Price Performance

KO stock opened at $71.26 on Wednesday. The stock’s 50 day moving average is $68.14 and its two-hundred day moving average is $69.46. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market capitalization of $306.52 billion, a PE ratio of 23.60, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

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

CocaCola Announces Dividend

The company 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 dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is 67.55%.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 193,627 shares of company stock worth $13,702,256. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Piper Sandler lifted their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. TD Cowen boosted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $78.43.

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.