49 Wealth Management LLC Buys 1,246 Shares of CocaCola Company (The) $KO

49 Wealth Management LLC boosted its position in CocaCola Company (The) (NYSE:KO) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,146 shares of the company’s stock after buying an additional 1,246 shares during the quarter. 49 Wealth Management LLC’s holdings in CocaCola were worth $1,496,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of CocaCola in the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its stake in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. GFG Capital LLC bought a new stake in shares of CocaCola during the 2nd quarter worth $34,000. Finally, MMA Asset Management LLC acquired a new stake in shares of CocaCola in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $70.61 on Monday. The business has a 50-day simple moving average of $67.75 and a 200 day simple moving average of $69.51. The stock has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Analyst Ratings Changes

KO has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.43.

Insider Buying and Selling

In related news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares in the company, valued at $996,835.29. This trade represents a 102.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by insiders.

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.