Inscription Capital LLC Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Inscription Capital LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 49,229 shares of the company's stock, valued at approximately $3,526,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voleon Capital Management LP bought a new stake in Coca-Cola in the fourth quarter valued at approximately $2,513,000. Clark Capital Management Group Inc. grew its holdings in shares of Coca-Cola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after buying an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd increased its position in shares of Coca-Cola by 8.1% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after buying an additional 783,161 shares in the last quarter. StoneX Group Inc. raised its stake in Coca-Cola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after buying an additional 23,009 shares during the period. Finally, Fortress Financial Group LLC bought a new position in Coca-Cola during the fourth quarter worth about $416,000. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Barclays restated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. UBS Group increased their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research 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 stock. According to data from MarketBeat, Coca-Cola presently has an average rating of "Buy" and a consensus price target of $76.00.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $70.51 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.94. The stock has a market capitalization of $303.50 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola's payout ratio is 81.60%.

Insider Activity at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the 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 transaction, the executive vice president now directly owns 187,716 shares of the company's stock, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction dated 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 sale, the chief financial officer now directly owns 205,511 shares of the company's stock, 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. In the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company's stock.

About Coca-Cola

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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