CocaCola Company (The) (NYSE:KO) Shares Bought by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC has increased its stake in Coca-Cola Company (NYSE:KO) by 3.6%, acquiring an additional 41,560 shares during the 1st quarter, bringing its total holdings to 1,186,168 shares valued at approximately $84.95 million.
• In insider activity, EVP Beatriz R. Perez sold 60,326 shares for approximately $4.34 million, and CEO James Quincey sold 266,403 shares valued at about $19.20 million, representing significant decreases in their ownership positions.
• Coca-Cola recently announced a quarterly dividend of $0.51 which will be paid on October 1st, reflecting a dividend yield of 3.0% and a payout ratio of 72.34%.

Empower Advisory Group LLC grew its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,186,168 shares of the company's stock after purchasing an additional 41,560 shares during the quarter. Empower Advisory Group LLC's holdings in CocaCola were worth $84,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KO. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter worth $25,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC raised its holdings in CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.

CocaCola Price Performance

Shares of KO stock traded up $0.90 during midday trading on Thursday, reaching $70.41. 15,784,037 shares of the company traded hands, compared to its average volume of 14,805,632. The firm's 50 day simple moving average is $70.16 and its two-hundred day simple moving average is $69.78. The firm has a market cap of $303.03 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group lowered their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola 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.