Wellspring Financial Advisors LLC Increases Stake in CocaCola Company (The) $KO

Wellspring Financial Advisors LLC increased its holdings in CocaCola Company (The) (NYSE:KO) by 13.6% during the second quarter, Holdings Channel.com reports. The firm owned 11,850 shares of the company’s stock after acquiring an additional 1,415 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in CocaCola were worth $838,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC grew its position in 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 acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in CocaCola by 3.4% in the fourth 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. Earned Wealth Advisors LLC purchased a new stake in shares of CocaCola during the first quarter valued at approximately $507,000. ING Groep NV grew its holdings in shares of CocaCola by 14.2% in the first quarter. ING Groep NV now owns 757,548 shares of the company’s stock worth $54,256,000 after purchasing an additional 94,391 shares during the last quarter. Finally, Gill Capital Partners LLC purchased a new position in shares of CocaCola in the first quarter worth $225,000. 70.26% of the stock is owned by institutional investors.

Insider Activity at CocaCola

In related news, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,252 shares of company stock valued at $15,953,007 over the last quarter. 0.97% of the stock is owned by company insiders.

CocaCola Trading Down 1.6%

CocaCola stock opened at $71.96 on Tuesday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The business’s fifty day simple moving average is $69.15 and its two-hundred day simple moving average is $69.56. The company has a market capitalization of $309.56 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business 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, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm 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 $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. CocaCola’s payout ratio is 67.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Bank of America increased 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. UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $78.43.

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.