Moran Wealth Management LLC Grows Position in CocaCola Company (The) $KO

Key Points

• Moran Wealth Management LLC increased its holdings in CocaCola Company by 13.5% during the 2nd quarter, totaling 73,247 shares valued at approximately $5,182,000.
• A significant insider transaction occurred when Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, which indicates a 15.15% decrease in his position.
• CocaCola announced a quarterly dividend of $0.51, which reflects an annualized dividend yield of 3.0% and a dividend payout ratio of 72.34%.

Moran Wealth Management LLC lifted its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 13.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,247 shares of the company's stock after buying an additional 8,693 shares during the period. Moran Wealth Management LLC's holdings in CocaCola were worth $5,182,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Revolve Wealth Partners LLC boosted its position in shares of CocaCola by 3.5% during the second quarter. Revolve Wealth Partners LLC now owns 9,087 shares of the company's stock valued at $643,000 after buying an additional 305 shares during the last quarter. Cornerstone Wealth Group LLC boosted its position in shares of CocaCola by 9.1% during the second quarter. Cornerstone Wealth Group LLC now owns 26,003 shares of the company's stock valued at $1,840,000 after buying an additional 2,166 shares during the last quarter. NorthRock Partners LLC boosted its position in shares of CocaCola by 4.4% during the second quarter. NorthRock Partners LLC now owns 50,458 shares of the company's stock valued at $3,595,000 after buying an additional 2,141 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of CocaCola by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 334,695 shares of the company's stock valued at $23,680,000 after buying an additional 2,000 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. boosted its position in shares of CocaCola by 1.8% during the second quarter. Astoria Portfolio Advisors LLC. now owns 17,656 shares of the company's stock valued at $1,220,000 after buying an additional 312 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $76.93.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

CocaCola Stock Up 1.1%

NYSE KO opened at $67.54 on Wednesday. The stock's 50-day moving average price is $67.98 and its 200-day moving average price is $69.80. 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 market capitalization of $290.65 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43.

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

CocaCola Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is 72.34%.

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.

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