RFG Advisory LLC Acquires 4,511 Shares of The Coca-Cola Company (NYSE:KO)

RFG Advisory LLC raised its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,434 shares of the company's stock after purchasing an additional 4,511 shares during the quarter. RFG Advisory LLC's holdings in Coca-Cola were worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Voleon Capital Management LP purchased a new stake in shares of Coca-Cola during the 4th quarter worth $2,513,000. Rice Partnership LLC lifted its position in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after acquiring an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after acquiring an additional 10,240 shares in the last quarter. Lockheed Martin Investment Management Co. increased its stake in Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after purchasing an additional 30,650 shares in the last quarter. Finally, abrdn plc raised its holdings in Coca-Cola by 0.3% during the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock worth $447,963,000 after purchasing an additional 22,904 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KO shares. Barclays restated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. UBS Group lifted their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola currently has an average rating of "Buy" and an average price target of $75.81.

Coca-Cola Trading Up 0.3%

NYSE:KO traded up $0.23 on Wednesday, hitting $71.39. 13,559,872 shares of the stock were exchanged, compared to its average volume of 15,760,504. The stock has a fifty day moving average of $71.39 and a 200-day moving average of $67.42. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $307.28 billion, a PE ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola's revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. As a group, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is currently 81.60%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was 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. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 496,164 shares of company stock worth $35,671,587. 0.97% of the stock is owned by corporate insiders.

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.