Golden State Wealth Management LLC Buys 11,277 Shares of CocaCola Company (The) (NYSE:KO)

Golden State Wealth Management LLC boosted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 328.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,711 shares of the company's stock after acquiring an additional 11,277 shares during the period. Golden State Wealth Management LLC's holdings in CocaCola were worth $1,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of CocaCola during the 4th quarter worth approximately $3,402,151,000. Capital International Investors increased its stake in CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CocaCola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in CocaCola during the fourth quarter worth $500,192,000. Finally, Franklin Resources Inc. lifted its stake in CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KO. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Piper Sandler increased their target price on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. UBS Group lifted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $76.27.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm'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 completion of the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was 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 valued at $29,923,985 over the last quarter. Insiders own 0.97% of the company's stock.

CocaCola Stock Down 0.8%

Shares of KO opened at $69.66 on Thursday. The stock's 50-day moving average price is $71.38 and its two-hundred day moving average price is $68.18. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a market capitalization of $299.84 billion, a PE ratio of 27.86, a PEG ratio of 3.68 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

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

CocaCola Announces Dividend

The company 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. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

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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