Crestwood Advisors Group LLC Has $10.38 Million Holdings in CocaCola Company (The) (NYSE:KO)

Crestwood Advisors Group LLC raised its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,985 shares of the company's stock after purchasing an additional 4,548 shares during the quarter. Crestwood Advisors Group LLC's holdings in CocaCola were worth $10,384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the 1st quarter worth approximately $216,000. Voleon Capital Management LP acquired a new position in shares of CocaCola in the 4th quarter worth approximately $2,513,000. Cornerstone Wealth Management LLC grew its position 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 worth $8,686,000 after acquiring an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. grew its position 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 worth $52,851,000 after acquiring an additional 204,681 shares in the last quarter. Finally, StoneX Group Inc. grew its position in shares of CocaCola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after acquiring an additional 23,009 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Up 0.1%

Shares of KO stock traded up $0.08 on Thursday, reaching $69.24. 5,261,815 shares of the company's stock traded hands, compared to its average volume of 17,353,180. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.21. The company has a market capitalization of $298.02 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.65 and a beta of 0.45. The business's 50 day moving average price is $70.74 and its two-hundred day moving average price is $69.23.

CocaCola (NYSE:KO - Get Free Report) last issued 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. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. CocaCola's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current 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 2.95%. CocaCola's dividend payout ratio is 72.34%.

Insider Activity

In other CocaCola news, CEO James Quincey sold 266,403 shares of the business's 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value 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. Over the last quarter, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays restated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group reduced their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, BNP Paribas reaffirmed an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $77.07.

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.