Earned Wealth Advisors LLC Buys New Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Earned Wealth Advisors LLC has acquired a new position in CocaCola, purchasing 7,083 shares valued at around $507,000 in the first quarter of the year.
• Multiple institutional investors, including Sage Financial Management and Clark Capital Management Group, have also recently increased their stakes in CocaCola, indicating strong interest in the stock.
• Analyst ratings for CocaCola are generally positive, with a consensus rating of "Buy" and recent target prices ranging from $79.00 to $86.00, reflecting confidence in the company's performance.

Earned Wealth Advisors LLC purchased a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,083 shares of the company's stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter worth about $216,000. Voleon Capital Management LP acquired a new position in CocaCola in the fourth quarter worth about $2,513,000. Cornerstone Wealth Management LLC increased its holdings in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after buying an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after buying an additional 204,681 shares in the last quarter. Finally, Investors Research Corp lifted its holdings in CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock worth $746,000 after buying an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KO shares. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $77.21.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the firm'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 transaction, the chief financial officer owned 205,511 shares of the company's stock, 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. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Up 1.4%

Shares of CocaCola stock opened at $68.87 on Monday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average price of $70.33 and a two-hundred day moving average price of $69.69. The stock has a market capitalization of $296.39 billion, a P/E ratio of 24.42, a PEG ratio of 3.58 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola's dividend payout ratio is 72.34%.

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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