Angeles Wealth Management LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Angeles Wealth Management LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 18.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,159 shares of the company’s stock after purchasing an additional 2,010 shares during the quarter. Angeles Wealth Management LLC’s holdings in Coca-Cola were worth $838,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Norges Bank acquired a new position in Coca-Cola during the fourth quarter worth $2,808,056,000. Vontobel Asset Management Inc. boosted its stake in Coca-Cola by 2.7% during the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after buying an additional 378,447 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,055,606 shares of company stock worth $584,747,672. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Price Performance

KO stock opened at $71.55 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $308.37 billion, a PE ratio of 28.62, a P/E/G ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The business’s fifty day moving average price is $67.82 and its 200 day moving average price is $63.73.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio is presently 77.60%.

About Coca-Cola

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.