The Coca-Cola Company (NYSE:KO) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 30.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,562 shares of the company’s stock after selling 1,556 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Coca-Cola were worth $255,000 as of its most recent SEC filing.

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

Coca-Cola Stock Down 0.7%

Shares of KO opened at $70.51 on Tuesday. 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 one year low of $60.62 and a one year high of $74.38. The stock has a market capitalization of $303.50 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.79 and a beta of 0.46. The stock has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.94.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KO. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. 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. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a research note on Monday, June 9th. Two 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, the stock presently has a consensus rating of “Buy” and an average target price of $76.00.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola 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 completion of the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing 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 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 sale, the executive vice president now owns 187,716 shares of the company’s stock, 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 a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by corporate 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.