The Coca-Cola Company (NYSE:KO) Shares Acquired by West Branch Capital LLC

West Branch Capital LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,935 shares of the company’s stock after buying an additional 5,128 shares during the quarter. Coca-Cola makes up approximately 1.0% of West Branch Capital LLC’s investment portfolio, making the stock its 27th largest position. West Branch Capital LLC’s holdings in Coca-Cola were worth $2,932,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. REAP Financial Group LLC raised its stake in shares of 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 buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. raised its stake in shares of 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 buying an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. 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 company’s stock in a transaction 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. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 in the last quarter. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the stock 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. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $81.00 price target on shares of Coca-Cola in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Buy” and an average target price of $76.00.

Coca-Cola Stock Performance

NYSE KO opened at $70.94 on Friday. The stock’s fifty day moving average is $71.56 and its two-hundred day moving average is $67.84. The firm has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

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 analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for 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 for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

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.