Nichols & Pratt Advisers LLP MA Has $31.71 Million Stock Position in CocaCola Company (The) (NYSE:KO)

Nichols & Pratt Advisers LLP MA cut its position in shares of CocaCola Company (The) (NYSE:KO) by 3.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 442,722 shares of the company’s stock after selling 17,975 shares during the quarter. CocaCola makes up about 2.2% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 18th largest holding. Nichols & Pratt Advisers LLP MA’s holdings in CocaCola were worth $31,709,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Sage Financial Management Group Inc. bought a new position in shares of CocaCola during the first quarter valued at about $216,000. Voleon Capital Management LP purchased a new position in shares of CocaCola in the fourth quarter worth about $2,513,000. Cornerstone Wealth Management LLC increased its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in shares of CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Finally, StoneX Group Inc. grew its stake in CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after acquiring an additional 23,009 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group lifted their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus target price of $76.27.

CocaCola Trading Up 0.4%

NYSE:KO opened at $71.19 on Friday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. 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 firm has a market cap of $306.42 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.72 and a beta of 0.45. The firm has a 50-day simple moving average of $71.10 and a 200-day simple moving average of $68.50.

CocaCola (NYSE:KO) last posted its quarterly 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. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. CocaCola’s payout ratio is 81.60%.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer directly owned 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 disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last 90 days. Insiders own 0.97% of the company’s stock.

CocaCola 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.