The Coca-Cola Company (NYSE:KO) Shares Acquired by Abound Wealth Management

Abound Wealth Management lifted its holdings in The Coca-Cola Company (NYSE:KO) by 30.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,304 shares of the company’s stock after buying an additional 307 shares during the quarter. Abound Wealth Management’s holdings in Coca-Cola were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KO. FMR LLC raised its stake in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola in the third quarter valued at approximately $269,382,000. Geode Capital Management LLC boosted its position in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.65 on Monday, hitting $61.72. 10,483,080 shares of the company were exchanged, compared to its average volume of 15,133,796. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $265.88 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a 50-day moving average price of $62.91 and a 200 day moving average price of $66.50.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

Several research firms recently commented on KO. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

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.