OneAscent Financial Services LLC Acquires 17,971 Shares of CocaCola Company (The) (NYSE:KO)

OneAscent Financial Services LLC grew its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 147.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,156 shares of the company's stock after acquiring an additional 17,971 shares during the period. OneAscent Financial Services LLC's holdings in CocaCola were worth $2,164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of CocaCola during the 4th quarter worth $3,402,151,000. Northern Trust Corp boosted its holdings in shares of CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. boosted its holdings in shares of CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. Capital International Investors boosted its holdings in shares of CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of CocaCola by 18.2% during the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after buying an additional 3,791,300 shares during the period. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Down 1.0%

CocaCola stock opened at $69.88 on Friday. The company's 50 day simple moving average is $70.71 and its 200 day simple moving average is $69.11. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $300.78 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 3.66 and a beta of 0.45. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. As a group, sell-side analysts anticipate 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 Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 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 disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. Royal Bank Of Canada upped their target price 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. Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, UBS Group increased their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $76.71.

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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