Cliftonlarsonallen Wealth Advisors LLC Sells 5,721 Shares of The Coca-Cola Company (NYSE:KO)

Cliftonlarsonallen Wealth Advisors LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,719 shares of the company’s stock after selling 5,721 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Coca-Cola were worth $2,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $31,000. REAP Financial Group LLC grew its holdings in shares of Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $38,000. Finally, Hoey Investments Inc. grew its holdings in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. UBS Group raised their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.00.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, 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 transaction 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 business’s 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 sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This represents 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 sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $70.94 on Friday. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 fifty day simple moving average of $71.56 and a two-hundred day simple moving average of $67.87. The firm has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the company earned $0.72 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. 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.