Money Concepts Capital Corp Has $6.96 Million Stock Position in CocaCola Company (The) (NYSE:KO)

Money Concepts Capital Corp increased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,132 shares of the company's stock after purchasing an additional 4,555 shares during the period. Money Concepts Capital Corp's holdings in CocaCola were worth $6,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Brighton Jones LLC increased its stake in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after buying an additional 2,072 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in CocaCola by 6.9% during the 4th quarter. Lake Street Advisors Group LLC now owns 29,991 shares of the company's stock valued at $1,867,000 after acquiring an additional 1,946 shares in the last quarter. Finally, NewEdge Wealth LLC grew its holdings in CocaCola by 10.4% in the fourth quarter. NewEdge Wealth LLC now owns 272,029 shares of the company's stock worth $16,937,000 after purchasing an additional 25,588 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction on 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 owns 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. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on KO shares. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, CocaCola currently has an average rating of "Buy" and an average price target of $76.27.

CocaCola Stock Performance

NYSE KO opened at $69.51 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $299.20 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.65 and a beta of 0.46. The business's 50 day moving average is $71.31 and its two-hundred day moving average is $68.23.

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

CocaCola Dividend Announcement

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 paid 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 2.93%. CocaCola's dividend payout ratio is currently 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.

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