Kingswood Wealth Advisors LLC Has $4.86 Million Holdings in CocaCola Company (The) (NYSE:KO)

Kingswood Wealth Advisors LLC lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 32.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,806 shares of the company's stock after buying an additional 16,526 shares during the period. Kingswood Wealth Advisors LLC's holdings in CocaCola were worth $4,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Voleon Capital Management LP bought a new stake in CocaCola during the 4th quarter worth approximately $2,513,000. Clark Capital Management Group Inc. grew its position in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after acquiring an additional 204,681 shares during the last quarter. Alphinity Investment Management Pty Ltd grew its position in CocaCola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock worth $652,767,000 after acquiring an additional 783,161 shares during the last quarter. StoneX Group Inc. grew its position in CocaCola 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 acquiring an additional 23,009 shares during the last quarter. Finally, Fortress Financial Group LLC bought a new stake in CocaCola during the 4th quarter worth approximately $416,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of CocaCola stock opened at $69.61 on Wednesday. The company has a market capitalization of $299.61 billion, a PE ratio of 27.84, a PEG ratio of 3.70 and a beta of 0.46. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The stock's fifty day simple moving average is $71.60 and its 200 day simple moving average is $67.95.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio is 81.60%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KO shares. Royal Bank Of Canada increased their price target on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler increased their price target on CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $76.00.

Insider Buying and Selling at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated 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 sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola 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 represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

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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