Congress Asset Management Co. Has $1.48 Million Stake in The Coca-Cola Company (NYSE:KO)

Congress Asset Management Co. decreased its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,661 shares of the company’s stock after selling 290 shares during the quarter. Congress Asset Management Co.’s holdings in Coca-Cola were worth $1,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter valued at about $31,000. REAP Financial Group LLC increased its position in Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. increased its position in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KO shares. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Finally, UBS Group boosted their target price 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. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Stock Performance

KO opened at $71.37 on Monday. 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 company’s fifty day moving average price is $71.39 and its two-hundred day moving average price is $67.63. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. 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 released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.86%. Coca-Cola’s payout ratio is 81.60%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 440,664 shares of company stock worth $31,730,532. 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.