The Coca-Cola Company (NYSE:KO) Shares Bought by Ullmann Wealth Partners Group LLC

Ullmann Wealth Partners Group LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 74.8% during the third quarter, according to 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $188,448,000. M&G Plc purchased a new position in Coca-Cola during the 1st quarter worth approximately $157,087,000. Finally, Raymond James & Associates grew its stake in Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after buying an additional 1,866,348 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KO shares. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. BNP Paribas began coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Coca-Cola Price Performance

Shares of KO remained flat at $70.34 during mid-day trading on Tuesday. The stock had a trading volume of 10,357,241 shares, compared to its average volume of 13,174,605. The Coca-Cola Company has a one year low of $52.84 and a one year high of $73.53. 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 company has a market cap 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 50-day moving average price of $70.56 and a two-hundred day moving average price of $65.52.

Coca-Cola (NYSE:KO) last posted 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 firm 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 business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

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 value of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is owned by 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.