Hiley Hunt Wealth Management Takes Position in The Coca-Cola Company (NYSE:KO)

Hiley Hunt Wealth Management bought a new stake in The Coca-Cola Company (NYSE:KO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,100 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank bought a new position in Coca-Cola during the 4th quarter valued at approximately $3,402,151,000. Northern Trust Corp increased its position in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. increased its position in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors increased its position in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on KO shares. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Cfra Research raised Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Stock Performance

Shares of KO opened at $71.49 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market capitalization of $307.69 billion, a P/E ratio of 28.94, a PEG ratio of 3.79 and a beta of 0.47. The business has a fifty day moving average of $71.28 and a 200 day moving average of $67.20.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company 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 company posted $0.72 earnings per share. Coca-Cola’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insider Buying and Selling at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This represents a 32.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 229,761 shares of company stock valued at $16,474,587. 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.