Cyndeo Wealth Partners LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

Cyndeo Wealth Partners LLC cut its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,660 shares of the company's stock after selling 33,298 shares during the quarter. Coca-Cola comprises about 0.8% of Cyndeo Wealth Partners LLC's investment portfolio, making the stock its 28th biggest position. Cyndeo Wealth Partners LLC's holdings in Coca-Cola were worth $12,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and a consensus target price of $76.00.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last quarter. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.94 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average of $71.56 and a two-hundred day moving average of $67.89. The company has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. Coca-Cola's payout ratio is 81.60%.

Coca-Cola 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.

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