Sagespring Wealth Partners LLC Raises Stock Position in CocaCola Company (The) $KO

Sagespring Wealth Partners LLC lifted its stake in shares of CocaCola Company (The) (NYSE:KO) by 60.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 71,671 shares of the company’s stock after acquiring an additional 27,065 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in CocaCola were worth $5,071,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KO. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its position in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. GAMMA Investing LLC raised its position in CocaCola by 19.0% in the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock valued at $5,961,000 after purchasing an additional 13,261 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in CocaCola by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,151,849 shares of the company’s stock valued at $82,496,000 after purchasing an additional 57,315 shares during the last quarter. Finally, Tcfg Wealth Management LLC purchased a new stake in CocaCola in the 1st quarter valued at $204,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.93.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was 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 in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

CocaCola Stock Performance

NYSE KO opened at $66.76 on Tuesday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $287.29 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The business has a fifty day moving average of $68.01 and a 200-day moving average of $69.82. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion during the quarter. As a group, analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s payout ratio is 72.34%.

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.