Shira Ridge Wealth Management Takes $209,000 Position in The Coca-Cola Company (NYSE:KO)

Shira Ridge Wealth Management acquired a new position in The Coca-Cola Company (NYSE:KO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,919 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors have also made changes to their positions in KO. Peachtree Investment Partners LLC grew its stake in shares of Coca-Cola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after acquiring an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC raised its position in shares of Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after acquiring an additional 161 shares in the last quarter. Excalibur Management Corp lifted its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares during the last quarter. Tradition Wealth Management LLC lifted its position in Coca-Cola by 3.0% in the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after acquiring an additional 167 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its holdings in shares of Coca-Cola by 0.7% in the 4th quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company’s stock valued at $1,493,000 after purchasing an additional 171 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the firm’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 sale, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Up 0.6%

Shares of KO opened at $71.76 on Tuesday. The company’s fifty day moving average is $71.39 and its two-hundred day moving average is $67.68. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a market cap of $308.89 billion, a PE ratio of 29.05, a price-to-earnings-growth 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 (EPS) 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 company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group increased their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Finally, Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.00.

About Coca-Cola

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.