USA Financial Formulas Buys Shares of 3,659 The Coca-Cola Company (NYSE:KO)

USA Financial Formulas bought a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,659 shares of the company's stock, valued at approximately $262,000.

Several other large investors also recently made changes to their positions in KO. Voleon Capital Management LP bought a new position in Coca-Cola in the fourth quarter valued at about $2,513,000. Clark Capital Management Group Inc. boosted its holdings in Coca-Cola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after acquiring an additional 204,681 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its holdings in Coca-Cola by 8.1% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after acquiring an additional 783,161 shares during the last quarter. StoneX Group Inc. boosted its holdings in Coca-Cola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after acquiring an additional 23,009 shares during the last quarter. Finally, Fortress Financial Group LLC bought a new position in Coca-Cola in the fourth quarter valued at about $416,000. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent research reports. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. UBS Group raised their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of Coca-Cola in a report on Monday, June 9th. Finally, Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.00.

Coca-Cola Stock Performance

Shares of KO traded down $1.30 during midday trading on Friday, reaching $70.94. The stock had a trading volume of 17,424,785 shares, compared to its average volume of 15,884,646. The firm has a 50 day simple moving average of $71.56 and a 200-day simple moving average of $67.87. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market cap of $305.36 billion, a PE ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the firm posted $0.72 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is presently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was 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 of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.