Good Steward Wealth Advisors LLC Takes $496,000 Position in CocaCola Company (The) (NYSE:KO)

Good Steward Wealth Advisors LLC purchased a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,919 shares of the company's stock, valued at approximately $496,000.

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

Insider Buying and Selling at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% 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 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KO. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Piper Sandler lifted their price objective on CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $76.00.

CocaCola Stock Performance

Shares of KO stock opened at $69.15 on Friday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company's fifty day simple moving average is $71.55 and its 200-day simple moving average is $67.99. The firm has a market cap of $297.63 billion, a PE ratio of 27.66, a P/E/G ratio of 3.63 and a beta of 0.46. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

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

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.95%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

About CocaCola

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.