Cantor Fitzgerald Investment Advisors L.P. Invests $217,000 in CocaCola Company (The) (NYSE:KO)

Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of CocaCola Company (The) (NYSE:KO) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,023 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new position in CocaCola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in CocaCola during the fourth quarter worth about $31,000. REAP Financial Group LLC lifted its holdings in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in CocaCola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. lifted its holdings in shares of CocaCola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. UBS Group boosted their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Piper Sandler boosted their price target on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $76.00.

CocaCola Price Performance

Shares of NYSE KO opened at $68.84 on Friday. The business’s 50 day moving average price is $71.50 and its two-hundred day moving average price is $68.03. The company has a market cap of $296.32 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. 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 Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings results 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 return on equity of 45.49% and a net margin of 23.00%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, June 13th. CocaCola’s payout ratio is 81.60%.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was 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 owns 187,716 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. Company insiders own 0.97% of the company’s stock.

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.