Concurrent Investment Advisors LLC Acquires 51,485 Shares of CocaCola Company (The) (NYSE:KO)

Concurrent Investment Advisors LLC lifted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,981 shares of the company's stock after acquiring an additional 51,485 shares during the period. Concurrent Investment Advisors LLC's holdings in CocaCola were worth $14,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at $216,000. Voleon Capital Management LP bought a new stake in shares of CocaCola in the 4th quarter valued at $2,513,000. Cornerstone Wealth Management LLC boosted its stake in shares of CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of CocaCola by 31.8% in the 4th 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 last quarter. Finally, StoneX Group Inc. boosted its stake in shares of CocaCola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on 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 directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Performance

KO traded up $0.28 during midday trading on Friday, hitting $71.19. 9,440,457 shares of the company traded hands, compared to its average volume of 16,178,355. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $306.42 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45. The company's 50-day moving average is $71.08 and its 200 day moving average is $68.56. 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 issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share 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 analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts expect that CocaCola Company will post 2.96 EPS for the current 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. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio is 81.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped 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. Royal Bank Of Canada increased their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group increased their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $76.27.

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.