Allworth Financial LP Buys 4,928 Shares of CocaCola Company (The) (NYSE:KO)

Allworth Financial LP lifted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 530,787 shares of the company's stock after acquiring an additional 4,928 shares during the period. Allworth Financial LP's holdings in CocaCola were worth $38,493,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of KO. Norges Bank acquired a new stake in shares of CocaCola in the fourth quarter valued at $3,402,151,000. Northern Trust Corp lifted its position in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after acquiring an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. raised its stake in CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Capital International Investors lifted its holdings in shares of CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of CocaCola by 18.2% in the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after buying an additional 3,791,300 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Up 0.5%

Shares of KO traded up $0.32 during trading hours on Thursday, hitting $69.80. 14,593,645 shares of the company were exchanged, compared to its average volume of 16,304,017. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The company has a market cap of $300.46 billion, a PE ratio of 27.92, a PEG ratio of 3.64 and a beta of 0.45. The firm's 50 day moving average is $70.96 and its 200-day moving average is $68.72. 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 announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.92%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Analyst Ratings Changes

Several research analysts recently weighed in on KO shares. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $76.27.

Insiders Place Their Bets

In other CocaCola news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last quarter. Insiders own 0.97% 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.