Avantax Advisory Services Inc. Raises Holdings in CocaCola Company (The) $KO

Avantax Advisory Services Inc. raised its position in CocaCola Company (The) (NYSE:KO) by 7.3% during the second quarter, HoldingsChannel reports. The firm owned 395,006 shares of the company’s stock after purchasing an additional 27,002 shares during the period. Avantax Advisory Services Inc.’s holdings in CocaCola were worth $27,947,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 1248 Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its stake in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. MMA Asset Management LLC purchased a new position in CocaCola in the 2nd quarter worth approximately $34,000. Finally, GFG Capital LLC acquired a new position in shares of CocaCola during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

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

CocaCola Stock Performance

Shares of CocaCola stock opened at $71.13 on Friday. The firm has a market cap of $305.98 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business’s fifty day simple moving average is $68.01 and its 200-day simple moving average is $69.49.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KO shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Bank of America upped their target price on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen boosted their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola 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.