Maridea Wealth Management LLC Invests $636,000 in CocaCola Company (The) (NYSE:KO)

Key Points

• Maridea Wealth Management LLC acquired 8,882 shares of Coca-Cola, valued at approximately $636,000, in the first quarter, signaling increased institutional interest.
• Coca-Cola's CEO, James Quincey, sold 266,403 shares for over $19 million, reducing his ownership by 49.12% amid insider selling totaling nearly $30 million in the last three months.
• Analysts have a consensus "Buy" rating on Coca-Cola, with target prices ranging from $76 to $83, reflecting positive sentiment following the company's recent earnings report that exceeded expectations.

Maridea Wealth Management LLC bought a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 8,882 shares of the company's stock, valued at approximately $636,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alteri Wealth LLC grew its position in CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after buying an additional 140 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after purchasing an additional 143 shares in the last quarter. MBA Advisors LLC grew its position in CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after purchasing an additional 143 shares in the last quarter. BXM Wealth LLC grew its position in CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after purchasing an additional 144 shares in the last quarter. Finally, MTM Investment Management LLC grew its position in CocaCola by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company's stock worth $3,637,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on KO. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One 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 company's stock. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of "Buy" and an average target price of $77.21.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Down 0.6%

Shares of CocaCola stock traded down $0.45 during midday trading on Thursday, reaching $68.31. 7,108,355 shares of the company's stock traded hands, compared to its average volume of 17,216,830. The company has a market cap of $293.96 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.61 and a beta of 0.45. The company's 50 day simple moving average is $70.45 and its 200 day simple moving average is $69.49. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities analysts expect 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 Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued 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 2.99%. CocaCola's dividend payout ratio is currently 72.34%.

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.