Parr Mcknight Wealth Management Group LLC Buys New Position in The Coca-Cola Company (NYSE:KO)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,425 shares of the company's stock, valued at approximately $462,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola in the fourth quarter worth $38,000. Hoey Investments Inc. raised its position in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares during the period. Finally, MilWealth Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $40,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm's 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 owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 462,407 shares of company stock worth $32,990,056. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KO shares. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada lifted their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $75.81.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.81 on Friday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm's fifty day moving average is $71.09 and its 200 day moving average is $66.98. The company has a market cap of $309.09 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.

Coca-Cola 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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