Phillips Wealth Planners LLC Has $761,000 Holdings in CocaCola Company (The) (NYSE:KO)

Phillips Wealth Planners LLC increased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 186.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,657 shares of the company's stock after purchasing an additional 6,940 shares during the quarter. Phillips Wealth Planners LLC's holdings in CocaCola were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KO. Charles Schwab Investment Management Inc. grew its stake in shares of CocaCola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Norges Bank bought a new position in CocaCola in the 4th quarter valued at about $3,402,151,000. Northern Trust Corp lifted its position in CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after acquiring an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its position in CocaCola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its position 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 in the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

CocaCola stock opened at $69.66 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market cap of $299.84 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.68 and a beta of 0.46. The company's 50-day moving average price is $71.38 and its 200-day moving average price is $68.18.

CocaCola (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. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

A number of research firms recently commented on KO. Piper Sandler lifted their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. UBS Group upped their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $76.27.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the company'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 transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. Company insiders own 0.97% of the company's stock.

CocaCola Company 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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