Vest Financial LLC grew its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 947,031 shares of the company's stock after purchasing an additional 62,733 shares during the quarter. Coca-Cola makes up about 1.1% of Vest Financial LLC's investment portfolio, making the stock its 9th largest position. Vest Financial LLC's holdings in Coca-Cola were worth $67,826,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of KO. Tallon Kerry Patrick bought a new position in shares of Coca-Cola during the 4th quarter valued at about $241,000. Brighton Jones LLC increased its position in shares of Coca-Cola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Coca-Cola during the 4th quarter valued at about $24,472,000. Revolve Wealth Partners LLC increased its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Finally, Sargent Investment Group LLC increased its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. Sargent Investment Group LLC now owns 3,658 shares of the company's stock worth $226,000 after purchasing an additional 243 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.
Coca-Cola Stock Performance
NYSE KO traded up $0.46 on Friday, hitting $71.37. 9,519,460 shares of the company traded hands, compared to its average volume of 15,795,047. The company has a market capitalization of $307.20 billion, a price-to-earnings ratio of 28.89, 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. The business's 50 day moving average price is $71.39 and its 200-day moving average price is $67.57. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38.
Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results 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. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Coca-Cola's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Coca-Cola's payout ratio is 81.60%.
Wall Street Analyst Weigh In
KO has been the subject of a number of research analyst reports. UBS Group lifted 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. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Piper Sandler lifted 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. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. 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 data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $75.81.
Check Out Our Latest Report on Coca-Cola
Insider Activity
In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,664 shares of company stock worth $31,730,532 over the last ninety days. Corporate insiders own 0.97% of the company's stock.
About Coca-Cola
(
Free Report)
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.
Further Reading
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