WealthPlan Investment Management LLC Boosts Stake in CocaCola Company (The) $KO

WealthPlan Investment Management LLC increased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 121.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,514 shares of the company's stock after purchasing an additional 5,766 shares during the period. WealthPlan Investment Management LLC's holdings in CocaCola were worth $744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter valued at about $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. 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 reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.69.

CocaCola Stock Up 0.7%

Shares of NYSE KO opened at $67.54 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm's 50 day moving average price is $67.88 and its 200 day moving average price is $69.75. The firm has a market cap of $290.67 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm 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%. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid 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 is Monday, December 1st. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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