CocaCola Company (The) $KO Shares Acquired by Acima Private Wealth LLC

Key Points

• Acima Private Wealth LLC increased its holdings in CocaCola by 199.9% in the second quarter, owning 9,132 shares worth approximately $646,000.
• Institutional ownership of CocaCola stands at 70.26%, with several funds, including Nuveen LLC and Wellington Management Group, significantly increasing their positions in the company.
• The latest analyst ratings show a consensus average rating of "Buy" for CocaCola, with an average target price of $76.93.

Acima Private Wealth LLC increased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 199.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,132 shares of the company's stock after buying an additional 6,087 shares during the period. Acima Private Wealth LLC's holdings in CocaCola were worth $646,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KO. Nuveen LLC acquired a new position in shares of CocaCola in the first quarter valued at approximately $1,508,657,000. 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 buying an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new position in shares of CocaCola in the first quarter valued at approximately $642,183,000. Raymond James Financial Inc. increased its position in CocaCola by 47.4% during 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 last quarter. Finally, Amundi increased its position in CocaCola by 16.0% during 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 last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

KO has been the subject of several research analyst reports. UBS Group dropped 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. Wells Fargo & Company dropped their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $76.93.

CocaCola Price Performance

KO opened at $67.05 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a 50 day moving average of $68.06 and a two-hundred day moving average of $69.85. The company has a market cap of $288.55 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.46 and a beta of 0.43.

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

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio is 72.34%.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's 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 transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.97% 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.

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