Turtle Creek Wealth Advisors LLC Grows Stake in CocaCola Company (The) $KO

Key Points

• Turtle Creek Wealth Advisors LLC has increased its stake in CocaCola Company by 7.1%, now owning 61,851 shares valued at approximately $4.38 million.
• Notable changes in holdings include Perigon Wealth Management and UBS Asset Management, with both firms also increasing their positions in CocaCola during the second quarter.
• Wall Street analysts have mixed views on CocaCola's stock; while UBS Group lowered their price target to $80, JPMorgan Chase raised theirs to $79, indicating ongoing interest and fluctuations in projected value.

Turtle Creek Wealth Advisors LLC increased its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,851 shares of the company's stock after acquiring an additional 4,081 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in CocaCola were worth $4,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. purchased a new position in CocaCola in the first quarter worth $216,000. Perigon Wealth Management LLC grew its position in CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after acquiring an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after acquiring an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Finally, Roundview Capital LLC lifted its stake in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock worth $2,474,000 after purchasing an additional 2,923 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In related 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 completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company lowered their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $76.69.

CocaCola Stock Performance

Shares of NYSE:KO opened at $67.03 on Thursday. The company has a market cap of $288.49 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 3.52 and a beta of 0.43. The company has a 50-day moving average price of $67.93 and a 200-day moving average price of $69.78. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

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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