SteelPeak Wealth LLC Has $6.97 Million Holdings in CocaCola Company (The) (NYSE:KO)

SteelPeak Wealth LLC lifted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,642 shares of the company's stock after buying an additional 11,710 shares during the quarter. SteelPeak Wealth LLC's holdings in CocaCola were worth $6,971,000 as of its most recent SEC filing.

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

CocaCola Stock Up 0.2%

KO traded up $0.12 during trading on Friday, reaching $69.89. 12,910,766 shares of the stock traded hands, compared to its average volume of 16,309,945. The stock has a market cap of $300.83 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock's 50-day simple moving average is $70.93 and its two-hundred day simple moving average is $68.77.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio (DPR) is currently 81.60%.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada boosted their price target on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.71.

Insider Activity

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated 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 owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 in the last 90 days. 0.97% of the stock is owned by company insiders.

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.