Diversify Wealth Management LLC Raises Position in CocaCola Company (The) (NYSE:KO)

Diversify Wealth Management LLC boosted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,853 shares of the company's stock after purchasing an additional 6,906 shares during the quarter. Diversify Wealth Management LLC's holdings in CocaCola were worth $3,679,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KO. Norges Bank acquired a new position in shares of CocaCola during the fourth quarter valued at about $3,402,151,000. Capital International Investors increased its holdings in shares of CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CocaCola by 8,419.4% during the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after acquiring an additional 5,891,034 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of CocaCola by 119.0% during the fourth quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock valued at $588,871,000 after acquiring an additional 5,139,352 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada upped their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group upped their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $76.71.

CocaCola Trading Up 0.2%

CocaCola stock traded up $0.12 during midday trading on Friday, reaching $69.89. 12,910,766 shares of the stock traded hands, compared to its average volume of 16,309,945. The company has a 50-day simple moving average of $70.93 and a two-hundred day simple moving average of $68.77. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $300.83 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio (DPR) is 81.60%.

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last quarter. Company insiders own 0.97% of the company's stock.

CocaCola 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.