Legacy Financial Group LLC Purchases Shares of 3,156 The Coca-Cola Company (NYSE:KO)

Legacy Financial Group LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,156 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola during the fourth quarter valued at about $31,000. REAP Financial Group LLC grew its stake in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. increased its holdings in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.2%

NYSE:KO opened at $71.98 on Tuesday. 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 firm’s 50-day moving average price is $71.39 and its 200-day moving average price is $67.39. The company has a market capitalization of $309.80 billion, a PE ratio of 29.14, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

KO has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Two research 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. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Buy” and a consensus price target of $75.81.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the 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 sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,761 shares of company stock valued at $16,474,587 in the last quarter. 0.97% of the stock is owned by insiders.

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.