11,932 Shares in CocaCola Company (The) $KO Purchased by Fortitude Financial LLC

Fortitude Financial LLC bought a new position in CocaCola Company (The) (NYSE:KO) during the second quarter, Holdings Channel reports. The institutional investor bought 11,932 shares of the company’s stock, valued at approximately $844,000. CocaCola comprises about 0.5% of Fortitude Financial LLC’s portfolio, making the stock its 18th largest position.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Norges Bank acquired a new stake in CocaCola in the second quarter worth $3,846,270,000. Wellington Management Group LLP lifted its stake in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of CocaCola by 1.1% during the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after acquiring an additional 285,794 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Bank of America raised their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Wells Fargo & Company increased their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler lifted their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $79.08.

Insider Activity

In other news, Director Max R. Levchin bought 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,252 shares of company stock valued at $15,953,007 over the last quarter. Insiders own 0.90% of the company’s stock.

CocaCola Trading Up 2.0%

Shares of NYSE:KO opened at $70.51 on Monday. The company has a 50 day moving average of $69.85 and a 200-day moving average of $69.47. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market cap of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.92 and a beta of 0.39. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

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

CocaCola Announces Dividend

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

CocaCola 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.