Berry Wealth Group LP Boosts Stake in CocaCola Company (The) $KO

Berry Wealth Group LP increased its stake in shares of CocaCola Company (The) (NYSE:KO) by 56.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,148 shares of the company’s stock after purchasing an additional 1,849 shares during the quarter. Berry Wealth Group LP’s holdings in CocaCola were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Norges Bank purchased a new stake in shares of CocaCola during the 2nd quarter worth about $3,846,270,000. Wellington Management Group LLP increased its position in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Finally, Legal & General Group Plc raised its holdings in CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after buying an additional 285,794 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler increased their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, TD Cowen lifted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average target price of $78.43.

CocaCola Trading Up 0.4%

CocaCola stock opened at $73.14 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 is $69.03 and its 200-day moving average is $69.55. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market cap of $314.62 billion, a P/E ratio of 24.22, a PEG ratio of 3.57 and a beta of 0.43.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Activity at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the transaction, the executive vice president directly owned 58,067 shares in the company, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’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 directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 225,252 shares of company stock worth $15,953,007. Company insiders own 0.90% of the company’s stock.

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.