Geneos Wealth Management Inc. Buys 22,585 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Geneos Wealth Management Inc. increased its stake in Coca-Cola by 69.2% in the first quarter, owning 55,226 shares valued at approximately $3.95 million.
• Insider selling activity includes EVP Beatriz R. Perez and CEO James Quincey, who sold shares worth $4.33 million and $19.19 million respectively, indicating a notable reduction in their holdings.
• Coca-Cola announced a quarterly dividend of $0.51 per share, with a yield of 2.97%, scheduled for payment on October 1st.

Geneos Wealth Management Inc. lifted its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 69.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,226 shares of the company's stock after buying an additional 22,585 shares during the period. Geneos Wealth Management Inc.'s holdings in CocaCola were worth $3,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. Capital International Investors lifted its stake in shares of CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. GAMMA Investing LLC raised its holdings in shares of CocaCola by 8,419.4% during the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after acquiring an additional 5,891,034 shares during the period. Capital Research Global Investors raised its holdings in shares of CocaCola by 119.0% during the fourth quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock valued at $588,871,000 after acquiring an additional 5,139,352 shares during the period. Northern Trust Corp raised its holdings in shares of CocaCola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Finally, Invesco Ltd. increased its stake in CocaCola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after buying an additional 3,791,300 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last quarter. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

CocaCola Trading Up 1.4%

Shares of NYSE:KO traded up $0.98 during trading on Friday, hitting $68.87. 16,100,345 shares of the company's stock were exchanged, compared to its average volume of 15,716,578. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a 50-day moving average price of $70.33 and a two-hundred day moving average price of $69.58. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market cap of $296.39 billion, a P/E ratio of 24.42, a PEG ratio of 3.53 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the company earned $0.84 EPS. CocaCola's revenue was up 2.5% on a year-over-year basis. Equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's payout ratio is currently 72.34%.

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.