CocaCola Company (The) (NYSE:KO) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 5.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,695 shares of the company’s stock after purchasing an additional 6,067 shares during the quarter. Perigon Wealth Management LLC’s holdings in CocaCola were worth $9,002,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Crowley Wealth Management Inc. purchased a new position in shares of CocaCola in the 4th quarter worth $27,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the 1st quarter worth $30,000. Mainstream Capital Management LLC purchased a new position in shares of CocaCola in the 4th quarter worth $31,000. Mizuho Securities Co. Ltd. raised its position in shares of CocaCola by 360.0% in the 1st 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 period. Finally, REAP Financial Group LLC raised its position in shares of CocaCola by 57.5% in the 4th 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. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Down 0.8%

Shares of NYSE KO opened at $69.66 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market cap of $299.84 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.68 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The stock’s 50-day simple moving average is $71.38 and its 200-day simple moving average is $68.18.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction 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 directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 275,946 shares in the company, 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. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. UBS Group increased their target price on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Royal Bank Of Canada raised their price objective on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average price target of $76.27.

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.