The Coca-Cola Company (NYSE:KO) Shares Acquired by Aries Wealth Management

Aries Wealth Management grew its holdings in The Coca-Cola Company (NYSE:KO) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,408 shares of the company’s stock after purchasing an additional 200 shares during the period. Aries Wealth Management’s holdings in Coca-Cola were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank acquired a new position in Coca-Cola during the 4th quarter worth about $3,402,151,000. Northern Trust Corp lifted its stake in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its stake in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KO shares. Piper Sandler increased 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. JPMorgan Chase & Co. increased their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a research note on Monday, June 9th. UBS Group increased their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $76.00.

Coca-Cola Trading Down 1.8%

KO opened at $70.94 on Friday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG 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 business’s 50-day simple moving average is $71.56 and its 200-day simple moving average is $67.87.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business 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 business posted $0.72 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola’s payout ratio is currently 81.60%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was 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 directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% 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, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last three months. 0.97% of the stock is currently owned by company insiders.

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.