HB Wealth Management LLC Grows Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• HB Wealth Management LLC increased its stake in Coca-Cola by 11.4%, owning a total of 573,832 shares valued at approximately $41.1 million.
• Several other institutional investors also acquired shares, with 70.26% of Coca-Cola's stock now owned by hedge funds and institutional investors.
• The company recently announced a quarterly dividend of $0.51 per share, reflecting an annualized dividend yield of 2.95%.

HB Wealth Management LLC grew its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,832 shares of the company's stock after purchasing an additional 58,678 shares during the quarter. HB Wealth Management LLC's holdings in CocaCola were worth $41,098,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new stake in shares of CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the period. Moser Wealth Advisors LLC grew its stake in shares of CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after buying an additional 409 shares during the period. Finally, REAP Financial Group LLC grew its stake in shares of CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $77.21.

Insider Buying and Selling

In related news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company'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 sale, the executive vice president 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Company insiders own 0.97% of the company's stock.

CocaCola Stock Performance

Shares of KO stock opened at $69.18 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market capitalization of $297.75 billion, a PE ratio of 24.53, a P/E/G ratio of 3.59 and a beta of 0.45. The firm has a 50 day moving average of $70.64 and a two-hundred day moving average of $69.34.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. CocaCola's payout ratio is 72.34%.

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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