6,882 Shares in CocaCola Company (The) $KO Purchased by Maia Wealth LLC

Maia Wealth LLC purchased a new stake in shares of CocaCola Company (The) (NYSE:KO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,882 shares of the company’s stock, valued at approximately $487,000.

Several other hedge funds have also added to or reduced their stakes in KO. Correct Capital Wealth Management grew its position in shares of CocaCola by 2.8% during the 2nd quarter. Correct Capital Wealth Management now owns 29,040 shares of the company’s stock valued at $2,055,000 after acquiring an additional 793 shares during the period. Boston Partners lifted its stake in CocaCola by 0.4% in the second quarter. Boston Partners now owns 8,985,344 shares of the company’s stock valued at $634,918,000 after purchasing an additional 33,578 shares during the last quarter. Richmond Investment Services LLC grew its holdings in CocaCola by 129.1% during the second quarter. Richmond Investment Services LLC now owns 6,679 shares of the company’s stock valued at $473,000 after purchasing an additional 3,764 shares during the period. North Star Asset Management Inc. increased its position in CocaCola by 3.0% in the second quarter. North Star Asset Management Inc. now owns 28,205 shares of the company’s stock worth $1,996,000 after buying an additional 833 shares during the last quarter. Finally, SlateStone Wealth LLC increased its position in CocaCola by 0.9% in the second quarter. SlateStone Wealth LLC now owns 111,323 shares of the company’s stock worth $7,876,000 after buying an additional 1,025 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on 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 approximately $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares in the company, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 225,252 shares of company stock worth $15,953,007. 0.90% of the stock is owned by corporate insiders.

CocaCola Price Performance

CocaCola stock opened at $73.02 on Thursday. The stock has a market cap of $314.11 billion, a price-to-earnings ratio of 24.18, 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. The business has a 50-day simple moving average of $68.77 and a 200 day simple moving average of $69.50. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.8%. CocaCola’s payout ratio is presently 67.55%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KO. Wells Fargo & Company increased their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Piper Sandler upped their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Bank of America boosted their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.43.

CocaCola 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.