HBW Advisory Services LLC Increases Holdings in The Coca-Cola Company (NYSE:KO)

HBW Advisory Services LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,899 shares of the company’s stock after acquiring an additional 1,379 shares during the period. HBW Advisory Services LLC’s holdings in Coca-Cola were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in Coca-Cola in the fourth quarter valued at about $241,000. Brighton Jones LLC grew its holdings in Coca-Cola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after acquiring an additional 4,591 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Coca-Cola in the fourth quarter worth $24,472,000. Revolve Wealth Partners LLC lifted its holdings in 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 period. Finally, KPP Advisory Services LLC boosted its position in shares of Coca-Cola by 16.0% during the 4th quarter. KPP Advisory Services LLC now owns 4,564 shares of the company’s stock worth $284,000 after purchasing an additional 628 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. The trade was a 18.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,164 shares of company stock worth $35,671,587 in the last 90 days. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on KO shares. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Royal Bank of Canada upped their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Price Performance

KO opened at $71.23 on Wednesday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a 50 day moving average of $71.39 and a two-hundred day moving average of $67.42. The company has a market cap of $306.59 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Coca-Cola’s payout ratio is currently 81.60%.

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.