Exchange Traded Concepts LLC Has $14.12 Million Position in The Coca-Cola Company (NYSE:KO)

Exchange Traded Concepts LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,150 shares of the company's stock after purchasing an additional 26,989 shares during the period. Exchange Traded Concepts LLC's holdings in Coca-Cola were worth $14,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth $31,000. REAP Financial Group LLC raised its position in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. boosted its position in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Down 1.8%

KO traded down $1.30 during trading on Friday, reaching $70.94. 17,424,785 shares of the stock traded hands, compared to its average volume of 15,884,646. The stock's 50-day simple moving average is $71.56 and its two-hundred day simple moving average is $67.87. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. 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 $305.36 billion, a price-to-earnings 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 announced its quarterly 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. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola 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 $0.51 dividend. 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 is 81.60%.

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last ninety days. Corporate insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on KO. Barclays restated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of Coca-Cola in a research note on Monday, June 9th. Finally, Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two research 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. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $76.00.

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.