Claris Advisors LLC MO Buys 329 Shares of The Coca-Cola Company (NYSE:KO)

Claris Advisors LLC MO raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,986 shares of the company’s stock after acquiring an additional 329 shares during the quarter. Claris Advisors LLC MO’s holdings in Coca-Cola were worth $286,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $241,000. Brighton Jones LLC raised its stake in shares of Coca-Cola by 13.3% in 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 during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $24,472,000. Revolve Wealth Partners LLC raised its stake in shares of Coca-Cola by 3.4% in 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 during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in shares of Coca-Cola by 12.2% in 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 during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Piper Sandler lifted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. UBS Group lifted their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $76.00.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $70.94 on Monday. The firm has a fifty day moving average of $71.56 and a two-hundred day moving average of $67.89. The stock has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. 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.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Insider Activity

In other news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 in the last quarter. Company insiders own 0.97% of the company’s stock.

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.