Steel Grove Capital Advisors LLC Acquires 1,255 Shares of CocaCola Company (The) (NYSE:KO)

Steel Grove Capital Advisors LLC increased its holdings in CocaCola Company (The) (NYSE:KO) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,506 shares of the company’s stock after purchasing an additional 1,255 shares during the quarter. CocaCola makes up approximately 0.8% of Steel Grove Capital Advisors LLC’s holdings, making the stock its 12th largest holding. Steel Grove Capital Advisors LLC’s holdings in CocaCola were worth $5,408,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Crowley Wealth Management Inc. purchased a new stake in CocaCola in the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in CocaCola in the fourth quarter worth about $31,000. REAP Financial Group LLC lifted its holdings in CocaCola by 57.5% in the fourth 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 purchased a new stake in CocaCola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. lifted its holdings in CocaCola by 41.9% in the fourth 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.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.90% of the company’s stock.

CocaCola Price Performance

Shares of NYSE KO opened at $69.61 on Wednesday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market cap of $299.61 billion, a P/E ratio of 27.84, a PEG ratio of 3.70 and a beta of 0.46. The company has a 50 day moving average of $71.60 and a 200 day moving average of $67.95. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last announced 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. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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 given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group raised their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Morgan Stanley reiterated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Two investment 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 company’s stock. According to MarketBeat, CocaCola presently has an average rating of “Buy” and an average price target of $76.00.

CocaCola 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.