CocaCola Company (The) (NYSE:KO) Shares Purchased by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC significantly increased its stake in CocaCola Company by 101.5% in the first quarter, now owning 292,880 shares valued at approximately $20.98 million.
• CocaCola's quarterly earnings surpassed expectations, reporting $0.87 earnings per share against an anticipated $0.83, contributing to a net margin of 25.89%.
• The company declared a quarterly dividend of $0.51 per share, indicating a dividend yield of 3.0% and a payout ratio of 72.34%.

Wealthspire Advisors LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 101.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 292,880 shares of the company's stock after purchasing an additional 147,510 shares during the quarter. Wealthspire Advisors LLC's holdings in CocaCola were worth $20,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KO. New Republic Capital LLC grew its position in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after purchasing an additional 139 shares in the last quarter. Alteri Wealth LLC boosted its stake in shares of CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after buying an additional 140 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after acquiring an additional 143 shares in the last quarter. MBA Advisors LLC grew its holdings in shares of CocaCola by 1.2% in the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after acquiring an additional 143 shares in the last quarter. Finally, BXM Wealth LLC increased its position in shares of CocaCola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of NYSE KO traded up $0.90 during trading on Thursday, hitting $70.41. The company had a trading volume of 15,784,037 shares, compared to its average volume of 14,805,632. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The firm has a market capitalization of $303.03 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The stock has a 50 day simple moving average of $70.16 and a 200 day simple moving average of $69.78.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola's payout ratio is 72.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola has an average rating of "Buy" and an average target price of $77.21.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

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.