Northwestern Mutual Wealth Management Co. Has $58.35 Million Position in CocaCola Company (The) $KO

Northwestern Mutual Wealth Management Co. grew its position in CocaCola Company (The) (NYSE:KO) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 824,684 shares of the company’s stock after purchasing an additional 18,136 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CocaCola were worth $58,346,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. 1248 Management LLC bought a new stake in shares of CocaCola in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its stake in CocaCola by 5,142.9% during the second 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 during the period. GFG Capital LLC acquired a new position in CocaCola in the 2nd quarter valued at approximately $34,000. MMA Asset Management LLC bought a new stake in shares of CocaCola in the 2nd quarter worth approximately $34,000. Finally, Winnow Wealth LLC bought a new stake in shares of CocaCola in the 2nd quarter worth approximately $43,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. TD Cowen raised their price objective on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Piper Sandler upped their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Bank of America increased their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Trading Up 0.4%

KO opened at $73.14 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market capitalization of $314.62 billion, a PE ratio of 24.22, a PEG ratio of 3.57 and a beta of 0.43. 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 50-day moving average price of $69.03 and a two-hundred day moving average price of $69.55.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. This represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 225,252 shares of company stock worth $15,953,007 over the last three months. Company insiders own 0.90% of the company’s stock.

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.