CocaCola Company (The) (NYSE:KO) Holdings Raised by Proathlete Wealth Management LLC

Proathlete Wealth Management LLC grew its position in CocaCola Company (The) (NYSE:KO) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,217 shares of the company’s stock after acquiring an additional 238 shares during the quarter. Proathlete Wealth Management LLC’s holdings in CocaCola were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Good Steward Wealth Advisors LLC bought a new position in CocaCola during the 1st quarter worth $496,000. ORG Partners LLC grew its stake in CocaCola by 89.5% during the 1st quarter. ORG Partners LLC now owns 6,390 shares of the company’s stock worth $458,000 after buying an additional 3,018 shares during the last quarter. Investment Research & Advisory Group Inc. grew its stake in CocaCola by 15.0% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 3,275 shares of the company’s stock worth $235,000 after buying an additional 427 shares during the last quarter. Retirement Systems of Alabama grew its stake in CocaCola by 2.0% during the 1st quarter. Retirement Systems of Alabama now owns 1,849,443 shares of the company’s stock worth $132,457,000 after buying an additional 36,503 shares during the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV grew its stake in CocaCola by 1.8% during the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 40,729 shares of the company’s stock worth $2,917,000 after buying an additional 705 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

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 transaction 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 $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 sale, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents 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 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on KO. Piper Sandler upped their price objective on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley restated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, Royal Bank Of Canada increased their price target on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.00.

CocaCola Trading Down 0.7%

Shares of CocaCola stock opened at $69.15 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a market cap of $297.63 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. The business has a fifty day simple moving average of $71.55 and a 200-day simple moving average of $67.99. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data 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. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company 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 is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. CocaCola’s dividend payout ratio (DPR) is 81.60%.

About CocaCola

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.