Regent Peak Wealth Advisors LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Regent Peak Wealth Advisors LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,977 shares of the company’s stock after selling 4,052 shares during the period. Coca-Cola accounts for approximately 2.2% of Regent Peak Wealth Advisors LLC’s portfolio, making the stock its 12th largest position. Regent Peak Wealth Advisors LLC’s holdings in Coca-Cola were worth $9,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Voleon Capital Management LP purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $2,513,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Coca-Cola by 62.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock valued at $1,663,000 after purchasing an additional 10,240 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in shares of Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after purchasing an additional 204,681 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Coca-Cola by 2.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 196,874 shares of the company’s stock worth $12,257,000 after acquiring an additional 4,637 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its holdings in Coca-Cola by 8.1% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock worth $652,767,000 after acquiring an additional 783,161 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KO. UBS Group boosted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Finally, Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $75.81.

Coca-Cola Trading Up 0.6%

Shares of KO stock opened at $71.37 on Friday. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a fifty day moving average price of $71.39 and a 200-day moving average price of $67.60. 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 company has a market cap of $307.20 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This represents a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock valued at $31,730,532 in the last 90 days. Company insiders own 0.97% of the company’s stock.

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.