CocaCola Company (The) (NYSE:KO) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,279 shares of the company's stock after purchasing an additional 3,920 shares during the quarter. Cornerstone Wealth Management LLC's holdings in CocaCola were worth $8,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in CocaCola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in CocaCola during the 4th quarter worth approximately $31,000. REAP Financial Group LLC increased its position in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of CocaCola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. lifted its holdings in shares of CocaCola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Trading Down 1.3%

NYSE:KO opened at $69.61 on Wednesday. The company has a market capitalization of $299.61 billion, a P/E ratio of 27.84, a P/E/G ratio of 3.70 and a beta of 0.46. The stock's 50 day moving average price is $71.60 and its 200 day moving average price is $67.95. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. 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 posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola's dividend payout ratio is presently 81.60%.

Insider Transactions at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola 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 sale, the chief executive officer now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% 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 worth $29,923,985 over the last three months. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KO shares. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada boosted their price target on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, UBS Group increased their price target on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, CocaCola presently has an average rating of "Buy" and a consensus price target of $76.00.

CocaCola 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.

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