Robertson Stephens Wealth Management LLC Acquires 6,700 Shares of CocaCola Company (The) $KO

Key Points

• Robertson Stephens Wealth Management LLC increased its stake in CocaCola by 54.3%, acquiring 6,700 additional shares for a total of 19,031 shares valued at approximately $1.36 million.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola, decreasing his ownership stake by 15.15%, valued at around $2.58 million.
• Several analysts have recently issued ratings, with a consensus average target price of $76.93 and a variety of ratings ranging from "Strong Buy" to "Overweight" from firms like Royal Bank Of Canada and Wells Fargo & Company.

Robertson Stephens Wealth Management LLC lifted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 54.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,031 shares of the company's stock after buying an additional 6,700 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in CocaCola were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Cascade Investment Group Inc. grew its position in shares of CocaCola by 49.1% during the 2nd quarter. Cascade Investment Group Inc. now owns 5,661 shares of the company's stock worth $401,000 after buying an additional 1,865 shares during the period. Monument Capital Management grew its position in shares of CocaCola by 14.4% during the 2nd quarter. Monument Capital Management now owns 23,339 shares of the company's stock worth $1,651,000 after buying an additional 2,943 shares during the period. Cyndeo Wealth Partners LLC grew its position in shares of CocaCola by 7.0% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 185,850 shares of the company's stock worth $13,149,000 after buying an additional 12,190 shares during the period. Galvin Gaustad & Stein LLC grew its position in shares of CocaCola by 3.9% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 321,136 shares of the company's stock worth $22,720,000 after buying an additional 12,089 shares during the period. Finally, M1 Capital Management LLC grew its position in CocaCola by 7.7% in the 2nd quarter. M1 Capital Management LLC now owns 3,778 shares of the company's stock valued at $267,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated 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 sale, the insider directly owned 209,513 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a report on Wednesday. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company cut their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. UBS Group cut their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Finally, BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $76.93.

CocaCola Price Performance

NYSE KO opened at $67.05 on Friday. The company has a market cap of $288.55 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm's 50-day simple moving average is $68.06 and its two-hundred day simple moving average is $69.85.

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

CocaCola Announces Dividend

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