Generali Investments Management Co LLC Acquires 7,193 Shares of The Coca-Cola Company (NYSE:KO)

Generali Investments Management Co LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 9.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 84,430 shares of the company’s stock after buying an additional 7,193 shares during the period. Coca-Cola accounts for 1.7% of Generali Investments Management Co LLC’s portfolio, making the stock its 11th biggest position. Generali Investments Management Co LLC’s holdings in Coca-Cola were worth $6,047,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in Coca-Cola during the 4th quarter worth approximately $241,000. Brighton Jones LLC raised its stake in Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Coca-Cola in the 4th quarter valued at $24,472,000. Revolve Wealth Partners LLC grew its holdings in Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares in the last quarter. Finally, Sargent Investment Group LLC grew its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Sargent Investment Group LLC now owns 3,658 shares of the company’s stock worth $226,000 after purchasing an additional 243 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 440,664 shares of company stock valued at $31,730,532. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KO. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. UBS Group upped their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $75.81.

Coca-Cola Trading Down 0.7%

Shares of NYSE KO opened at $70.89 on Friday. 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 $305.11 billion, a PE ratio of 28.70, a PEG ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $71.40 and a two-hundred day moving average price of $67.51.

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. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Coca-Cola 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.