Atria Wealth Solutions Inc. Reduces Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in CocaCola by 2.1%, holding 243,777 shares valued at $17.57 million after selling 5,291 shares in the first quarter.
• CocaCola's recent earnings report showed an EPS of $0.87, exceeding the consensus estimate of $0.83, with a revenue of $12.50 billion, a 2.5% increase from the prior year.
• The company announced a quarterly dividend of $0.51 per share, set to be paid on October 1st, reflecting a 3.0% annual yield based on its dividend payout ratio of 72.34%.

Atria Wealth Solutions Inc. decreased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,777 shares of the company's stock after selling 5,291 shares during the period. Atria Wealth Solutions Inc.'s holdings in CocaCola were worth $17,569,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KO. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Titleist Asset Management LLC increased its position in shares of CocaCola by 22.6% in the fourth quarter. Titleist Asset Management LLC now owns 7,668 shares of the company's stock valued at $477,000 after buying an additional 1,412 shares in the last quarter. Finally, Trek Financial LLC boosted its position in shares of CocaCola by 287.2% in the 4th quarter. Trek Financial LLC now owns 16,926 shares of the company's stock worth $1,054,000 after buying an additional 12,555 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KO shares. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Cfra Research raised CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, CocaCola currently has a consensus rating of "Buy" and an average price target of $77.21.

CocaCola Trading Up 1.3%

Shares of KO stock traded up $0.90 on Thursday, reaching $70.41. 15,784,037 shares of the stock were exchanged, compared to its average volume of 14,805,632. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $303.03 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The firm has a 50 day moving average of $70.16 and a two-hundred day moving average of $69.78. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. On average, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

About CocaCola

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.