UP Strategic Wealth Investment Advisors LLC Takes Position in The Coca-Cola Company (NYSE:KO)

UP Strategic Wealth Investment Advisors LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,373 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD grew its position in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Fisher Asset Management LLC increased its stake in shares of Coca-Cola by 11,127.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after acquiring an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth about $193,342,000. Putnam Investments LLC boosted its position in shares of Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Truist Financial upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Down 0.1 %

NYSE:KO opened at $71.76 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $309.14 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The stock has a 50-day simple moving average of $68.83 and a 200 day simple moving average of $64.18.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.