Fifth Third Wealth Advisors LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,378 shares of the company's stock after buying an additional 6,848 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Coca-Cola were worth $7,332,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Voleon Capital Management LP acquired a new stake in shares of Coca-Cola during the fourth quarter worth $2,513,000. Rice Partnership LLC raised its position in shares of Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after buying an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after buying an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. raised its position in Coca-Cola by 16.3% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after purchasing an additional 30,650 shares during the period. Finally, abrdn plc raised its position in Coca-Cola by 0.3% in the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after purchasing an additional 22,904 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.
Insider Transactions at Coca-Cola
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. Over the last three months, insiders sold 229,761 shares of company stock worth $16,474,587. Company insiders own 0.97% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on the company. Morgan Stanley raised their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $75.81.
Read Our Latest Stock Analysis on KO
Coca-Cola Stock Performance
Shares of NYSE KO traded down $0.13 during mid-day trading on Monday, hitting $71.98. The company had a trading volume of 10,196,133 shares, compared to its average volume of 15,726,091. The stock has a market cap of $309.80 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 3.79 and a beta of 0.47. The firm's 50 day simple moving average is $71.35 and its two-hundred day simple moving average is $67.32. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month 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 for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola's dividend payout ratio is presently 81.60%.
About Coca-Cola
(
Free Report)
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.
Featured Articles
Before you consider Coca-Cola, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Coca-Cola wasn't on the list.
While Coca-Cola currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
