Wolff Wiese Magana LLC Has $1.89 Million Position in The Coca-Cola Company (NYSE:KO)

Wolff Wiese Magana LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 26,342 shares of the company’s stock after acquiring an additional 179 shares during the period. Coca-Cola makes up about 1.3% of Wolff Wiese Magana LLC’s portfolio, making the stock its 25th largest holding. Wolff Wiese Magana LLC’s holdings in Coca-Cola were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Trading Up 0.3 %

Coca-Cola stock opened at $70.52 on Thursday. The business has a 50 day moving average price of $70.64 and a two-hundred day moving average price of $65.62. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $53.21 and a 12 month high of $73.53. The stock has a market cap of $303.80 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock valued at $24,728,364 over the last quarter. 0.97% of the stock is owned by company insiders.

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.