V. M. Manning & CO. Inc. Invests $492,000 in CocaCola Company (The) $KO

V. M. Manning & CO. Inc. bought a new stake in CocaCola Company (The) (NYSE:KO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,162 shares of the company’s stock, valued at approximately $492,000. CocaCola makes up about 0.6% of V. M. Manning & CO. Inc.’s investment portfolio, making the stock its 29th biggest holding.

Other large investors also recently bought and sold shares of the company. Requisite Capital Management LLC grew its stake in shares of CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after buying an additional 142 shares in the last quarter. Paulson Wealth Management Inc. lifted its holdings in shares of CocaCola by 2.2% in the 2nd quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after acquiring an additional 149 shares during the last quarter. Summitry LLC lifted its holdings in shares of CocaCola by 1.9% in the 2nd quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after acquiring an additional 149 shares during the last quarter. Frisch Financial Group Inc. grew its position in CocaCola by 2.5% in the first quarter. Frisch Financial Group Inc. now owns 6,145 shares of the company’s stock worth $443,000 after acquiring an additional 150 shares in the last quarter. Finally, GDS Wealth Management increased its stake in CocaCola by 1.8% during the first quarter. GDS Wealth Management now owns 8,591 shares of the company’s stock worth $615,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Max R. Levchin bought 7,206 shares of the stock in a transaction on 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 acquisition, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KO. Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Finally, Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus target price of $79.08.

CocaCola Stock Performance

Shares of CocaCola stock opened at $70.51 on Monday. 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 stock’s fifty day moving average is $69.85 and its two-hundred day moving average is $69.47. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market capitalization of $303.29 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.39.

CocaCola (NYSE:KO) last issued 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 during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, analysts expect that CocaCola Company will post 2.96 earnings per share for the current 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

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.