Harrell Investment Partners LLC Grows Position in CocaCola Company (The) (NYSE:KO)

Harrell Investment Partners LLC increased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 16.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,337 shares of the company's stock after buying an additional 4,099 shares during the period. Harrell Investment Partners LLC's holdings in CocaCola were worth $2,029,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in CocaCola in the fourth quarter valued at approximately $241,000. Brighton Jones LLC increased its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in CocaCola in the fourth quarter valued at approximately $24,472,000. Revolve Wealth Partners LLC increased its stake in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

CocaCola Price Performance

Shares of NYSE KO opened at $69.15 on Thursday. 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 fifty day moving average price of $71.59 and a 200 day moving average price of $67.96. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $297.63 billion, a PE ratio of 27.66, a P/E/G ratio of 3.65 and a beta of 0.46.

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

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's payout ratio is 81.60%.

CocaCola Company 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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