Sowell Financial Services LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,387 shares of the company's stock after buying an additional 12,534 shares during the period. Sowell Financial Services LLC's holdings in Coca-Cola were worth $11,129,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Mission Wealth Management LP raised its position in Coca-Cola by 10.1% during the 1st quarter. Mission Wealth Management LP now owns 41,136 shares of the company's stock valued at $2,946,000 after purchasing an additional 3,757 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Coca-Cola by 4.3% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,948 shares of the company's stock worth $784,000 after purchasing an additional 447 shares in the last quarter. 1900 Wealth Management LLC increased its holdings in shares of Coca-Cola by 3.6% in the 1st quarter. 1900 Wealth Management LLC now owns 5,913 shares of the company's stock worth $423,000 after purchasing an additional 205 shares in the last quarter. Hanson & Doremus Investment Management grew its holdings in shares of Coca-Cola by 15.9% in the first quarter. Hanson & Doremus Investment Management now owns 50,431 shares of the company's stock worth $3,612,000 after acquiring an additional 6,917 shares during the period. Finally, Access Financial Services Inc. grew its holdings in Coca-Cola by 34.9% during the first quarter. Access Financial Services Inc. now owns 28,454 shares of the company's stock valued at $2,038,000 after purchasing an additional 7,360 shares during the period. 70.26% of the stock is currently owned by institutional investors.
Insider Transactions at Coca-Cola
In related news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last ninety days. Company insiders own 0.97% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $76.00.
Read Our Latest Report on Coca-Cola
Coca-Cola Stock Performance
NYSE KO opened at $70.94 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm's fifty day moving average price is $71.56 and its two-hundred day moving average price is $67.89. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.
Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during 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%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.
Coca-Cola Dividend Announcement
The business 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. This represents a $2.04 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.
About Coca-Cola
(
Free Report)
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.
Further Reading
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