Mission Wealth Management LP Has $2.95 Million Stake in CocaCola Company (The) (NYSE:KO)

Mission Wealth Management LP increased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,136 shares of the company's stock after acquiring an additional 3,757 shares during the period. Mission Wealth Management LP's holdings in CocaCola were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of CocaCola by 4.3% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,948 shares of the company's stock valued at $784,000 after acquiring an additional 447 shares during the period. 1900 Wealth Management LLC increased its position in shares of CocaCola by 3.6% during the first quarter. 1900 Wealth Management LLC now owns 5,913 shares of the company's stock worth $423,000 after acquiring an additional 205 shares during the period. Hanson & Doremus Investment Management grew its stake in shares of CocaCola by 15.9% during the first quarter. Hanson & Doremus Investment Management now owns 50,431 shares of the company's stock worth $3,612,000 after purchasing an additional 6,917 shares in the last quarter. Access Financial Services Inc. boosted its stake in CocaCola by 34.9% in the first quarter. Access Financial Services Inc. now owns 28,454 shares of the company's stock valued at $2,038,000 after acquiring an additional 7,360 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in CocaCola by 2.7% in the first quarter. Good Life Advisors LLC now owns 56,705 shares of the company's stock valued at $4,061,000 after acquiring an additional 1,504 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Down 0.7%

KO traded down $0.47 during trading hours on Wednesday, hitting $69.15. 15,978,023 shares of the company's stock were exchanged, compared to its average volume of 15,923,202. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock's 50-day moving average is $71.60 and its two-hundred day moving average is $67.95. The stock has a market cap of $297.63 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.65 and a beta of 0.46. 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 (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm's revenue was down .7% on a year-over-year basis. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared 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. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, June 13th. CocaCola's dividend payout ratio (DPR) 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 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 of the company's stock, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on KO. Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. UBS Group upped their price target 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. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler increased their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $76.00.

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.