CocaCola Company (The) (NYSE:KO) Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its position in CocaCola Company (The) (NYSE:KO - Free Report) by 21.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,606 shares of the company's stock after buying an additional 7,933 shares during the quarter. Sagespring Wealth Partners LLC's holdings in CocaCola were worth $3,195,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in CocaCola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of CocaCola in the 4th quarter valued at $31,000. REAP Financial Group LLC lifted its position in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of CocaCola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. grew its stake in shares of CocaCola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's 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 transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Down 0.7%

Shares of KO traded down $0.47 during mid-day trading on Thursday, hitting $69.15. 15,978,023 shares of the company's stock were exchanged, compared to its average volume of 15,923,211. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock's 50-day moving average is $71.59 and its 200-day moving average is $67.96. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 3.65 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly 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. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.95%. CocaCola's dividend payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Barclays reissued an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Royal Bank Of Canada increased their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Piper Sandler upped their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.00.

CocaCola 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.