The Coca-Cola Company (NYSE:KO) Shares Purchased by Capital Investment Advisors LLC

Capital Investment Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,508 shares of the company’s stock after acquiring an additional 29,314 shares during the period. Capital Investment Advisors LLC’s holdings in Coca-Cola were worth $37,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new stake in shares of Coca-Cola in the 4th quarter worth $241,000. Brighton Jones LLC grew its holdings in Coca-Cola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after acquiring an additional 4,591 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Coca-Cola in the fourth quarter worth about $24,472,000. Revolve Wealth Partners LLC raised its position in Coca-Cola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after acquiring an additional 293 shares in the last quarter. Finally, Consolidated Portfolio Review Corp lifted its holdings in Coca-Cola by 17.1% in the 4th quarter. Consolidated Portfolio Review Corp now owns 5,314 shares of the company’s stock valued at $331,000 after acquiring an additional 775 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on 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 $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction that occurred 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 directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock valued at $31,730,532 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.6%

Shares of NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $307.20 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a 50-day simple moving average of $71.39 and a 200 day simple moving average of $67.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KO shares. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two equities 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. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Buy” and an average price target of $75.81.

Coca-Cola Company 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.