Wealth Enhancement Advisory Services LLC Grows Stock Holdings in CocaCola Company (The) (NYSE:KO)

Wealth Enhancement Advisory Services LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,151,849 shares of the company's stock after buying an additional 57,315 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in CocaCola were worth $82,496,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of CocaCola during the fourth quarter valued at about $241,000. Brighton Jones LLC increased its holdings in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of CocaCola during the fourth quarter valued at about $24,472,000. Revolve Wealth Partners LLC increased its holdings in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in shares of CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after acquiring an additional 2,072 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE KO opened at $69.15 on Friday. The stock has a market capitalization of $297.63 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.63 and a beta of 0.46. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm's 50 day simple moving average is $71.55 and its 200-day simple moving average is $67.99. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. CocaCola's dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KO shares. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Barclays restated an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Piper Sandler upped their price objective on shares of CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $76.00.

Insider Activity

In other news, 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 transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last quarter. Corporate insiders own 0.97% of the company's stock.

About CocaCola

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.

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