Financial Gravity Asset Management Inc. Invests $2.29 Million in CocaCola Company (The) (NYSE:KO)

Financial Gravity Asset Management Inc. bought a new stake in CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,981 shares of the company's stock, valued at approximately $2,290,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in CocaCola by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company's stock valued at $675,000 after purchasing an additional 3,426 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in CocaCola by 6.9% during the 4th quarter. Moran Wealth Management LLC now owns 41,850 shares of the company's stock valued at $2,606,000 after purchasing an additional 2,684 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, CFO John Murphy sold 88,658 shares of the stock in a transaction 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 directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. Insiders own 0.97% of the company's stock.

CocaCola Price Performance

Shares of KO traded up $0.32 during mid-day trading on Thursday, reaching $69.80. The company had a trading volume of 14,593,645 shares, compared to its average volume of 16,304,017. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The company's 50-day moving average is $70.96 and its 200-day moving average is $68.72. The company has a market capitalization of $300.46 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.64 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the prior year, the firm posted $0.72 EPS. CocaCola's quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada increased their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $76.27.

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.