Forbes J M & Co. LLP Has $17.47 Million Stake in CocaCola Company (The) (NYSE:KO)

Forbes J M & Co. LLP grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,909 shares of the company's stock after acquiring an additional 7,218 shares during the period. CocaCola accounts for approximately 1.7% of Forbes J M & Co. LLP's investment portfolio, making the stock its 17th biggest holding. Forbes J M & Co. LLP's holdings in CocaCola were worth $17,469,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its position in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after buying an additional 143 shares during the last quarter. MBA Advisors LLC increased its stake in shares of CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares during the last quarter. BXM Wealth LLC boosted its holdings in shares of CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after acquiring an additional 144 shares in the last quarter. MTM Investment Management LLC boosted its holdings in shares of CocaCola by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company's stock valued at $3,637,000 after acquiring an additional 144 shares in the last quarter. Finally, Navis Wealth Advisors LLC boosted its holdings in shares of CocaCola by 4.2% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock valued at $257,000 after acquiring an additional 146 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president directly owned 187,716 shares in the company, 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 through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of KO opened at $69.67 on Wednesday. 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 stock has a market cap of $299.87 billion, a PE ratio of 27.87, a P/E/G ratio of 3.67 and a beta of 0.45. The firm has a 50-day simple moving average of $70.71 and a two-hundred day simple moving average of $69.17. 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 issued 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. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The company's revenue was up 2.5% compared to the same quarter last year. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. JPMorgan Chase & Co. boosted their price objective on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a report on Monday. Finally, UBS Group raised their price target on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CocaCola has a consensus rating of "Buy" and an average price target of $77.13.

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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