Elevation Point Wealth Partners LLC Acquires 12,211 Shares of The Coca-Cola Company (NYSE:KO)

Elevation Point Wealth Partners LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 83.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,867 shares of the company's stock after purchasing an additional 12,211 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Coca-Cola were worth $1,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. Krilogy Financial LLC grew its position in shares of Coca-Cola by 5.3% in the 1st quarter. Krilogy Financial LLC now owns 11,548 shares of the company's stock worth $827,000 after acquiring an additional 584 shares in the last quarter. West Branch Capital LLC grew its position in shares of Coca-Cola by 14.3% in the 1st quarter. West Branch Capital LLC now owns 40,935 shares of the company's stock worth $2,932,000 after acquiring an additional 5,128 shares in the last quarter. Everhart Financial Group Inc. grew its position in shares of Coca-Cola by 19.5% in the 1st quarter. Everhart Financial Group Inc. now owns 23,807 shares of the company's stock worth $1,705,000 after acquiring an additional 3,882 shares in the last quarter. Schoolcraft Capital LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $248,000. Finally, Relyea Zuckerberg Hanson LLC grew its position in shares of Coca-Cola by 4.2% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 37,065 shares of the company's stock worth $2,655,000 after acquiring an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In other Coca-Cola news, 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 transaction of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $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. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Trading Down 1.8%

NYSE:KO traded down $1.30 on Friday, reaching $70.94. The company's stock had a trading volume of 17,424,785 shares, compared to its average volume of 15,884,646. The firm has a market cap of $305.36 billion, a PE ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The business's 50-day moving average price is $71.56 and its two-hundred day moving average price is $67.87. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Coca-Cola's revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business 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 presently 81.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KO shares. 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. 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 research report on Monday, April 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research report on Monday, June 9th. UBS Group boosted their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $76.00.

About Coca-Cola

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.