Simplicity Wealth LLC Acquires 40,530 Shares of The Coca-Cola Company (NYSE:KO)

Simplicity Wealth LLC raised its position in The Coca-Cola Company (NYSE:KO - Free Report) by 723.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,130 shares of the company's stock after acquiring an additional 40,530 shares during the quarter. Simplicity Wealth LLC's holdings in Coca-Cola were worth $3,304,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Voleon Capital Management LP bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $2,513,000. Clark Capital Management Group Inc. boosted its stake in shares of Coca-Cola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in shares of Coca-Cola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after purchasing an additional 783,161 shares in the last quarter. StoneX Group Inc. boosted its stake in shares of Coca-Cola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Finally, Fortress Financial Group LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $416,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Down 1.8%

Shares of NYSE KO traded down $1.30 during midday trading on Friday, hitting $70.94. The stock had a trading volume of 17,424,785 shares, compared to its average volume of 15,853,808. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business's 50 day moving average is $71.50 and its 200-day moving average is $67.80. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola's payout ratio is 81.60%.

Insider Activity

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the 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. 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 three months. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two investment 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price 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.