Elyxium Wealth LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,442 shares of the company's stock, valued at approximately $748,000.
A number of other hedge funds have also recently added to or reduced their stakes in KO. Sage Financial Management Group Inc. acquired a new stake in CocaCola during the first quarter worth approximately $216,000. Voleon Capital Management LP purchased a new stake in shares of CocaCola during the fourth quarter valued at approximately $2,513,000. Cornerstone Wealth Management LLC lifted its position in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares during the period. Finally, StoneX Group Inc. lifted its holdings in CocaCola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after buying an additional 23,009 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
Wall Street Analyst Weigh In
KO has been the subject of several recent research reports. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $76.71.
Check Out Our Latest Analysis on KO
CocaCola Trading Down 1.0%
CocaCola stock opened at $69.88 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The firm has a 50-day moving average of $70.71 and a 200-day moving average of $69.11. The company has a market cap of $300.78 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 3.66 and a beta of 0.45. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.
CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the firm posted $0.72 EPS. CocaCola's quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.
CocaCola Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CocaCola's dividend payout ratio (DPR) is 81.60%.
Insider Buying and Selling
In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last ninety days. 0.97% of the stock is owned by company insiders.
CocaCola Company Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CocaCola Company (The) (NYSE:KO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CocaCola, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CocaCola wasn't on the list.
While CocaCola currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
