Woodmont Investment Counsel LLC Raises Stock Holdings in CocaCola Company (The) (NYSE:KO)

Woodmont Investment Counsel LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,737 shares of the company's stock after buying an additional 4,647 shares during the quarter. Woodmont Investment Counsel LLC's holdings in CocaCola were worth $8,003,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in CocaCola during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in CocaCola during the 4th quarter valued at approximately $31,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the last quarter. REAP Financial Group LLC lifted its stake in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after buying an additional 208 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of CocaCola in the 4th quarter valued at $38,000. Institutional investors own 70.26% of the company's stock.

Insider Transactions at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 completion of the transaction, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Down 0.5%

Shares of NYSE KO opened at $68.84 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The business's 50 day moving average is $71.50 and its two-hundred day moving average is $68.03. The firm has a market cap of $296.32 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.63 and a beta of 0.46.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. CocaCola's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business 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 dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KO shares. Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Piper Sandler increased their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group boosted their target price on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Two equities 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 company currently 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.

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