Ullmann Wealth Partners Group LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Ullmann Wealth Partners Group LLC raised its position in The Coca-Cola Company (NYSE:KO) by 74.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,809 shares of the company’s stock after purchasing an additional 5,908 shares during the quarter. Ullmann Wealth Partners Group LLC’s holdings in Coca-Cola were worth $992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Swedbank AB purchased a new position in shares of Coca-Cola during the first quarter worth about $102,604,000. BDF Gestion acquired a new stake in Coca-Cola in the second quarter valued at about $7,421,000. Duality Advisers LP lifted its position in Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after purchasing an additional 73,434 shares during the period. TD Asset Management Inc lifted its position in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board lifted its position in Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after purchasing an additional 23,500 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays lifted their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

KO remained flat at $70.34 on Tuesday. 10,357,241 shares of the company were exchanged, compared to its average volume of 13,174,605. The business has a 50-day moving average of $70.56 and a 200 day moving average of $65.52. The stock has a market capitalization of $303.02 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. 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 Coca-Cola Company has a 1-year low of $52.84 and a 1-year high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Coca-Cola 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.