CCG Wealth Management LLC Acquires 460 Shares of CocaCola Company (The) (NYSE:KO)

CCG Wealth Management LLC lifted its holdings in CocaCola Company (The) (NYSE:KO) by 11.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,328 shares of the company’s stock after purchasing an additional 460 shares during the period. CCG Wealth Management LLC’s holdings in CocaCola were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in CocaCola during the 4th quarter worth approximately $3,402,151,000. Capital International Investors raised its stake in CocaCola 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 during the period. Charles Schwab Investment Management Inc. raised its stake in CocaCola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Raymond James Financial Inc. bought a new stake in CocaCola during the 4th quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. raised its stake in CocaCola 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 during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. UBS Group upped their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Piper Sandler raised their target price on shares of CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola has an average rating of “Buy” and a consensus target price of $76.00.

CocaCola Price Performance

KO stock opened at $68.84 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. 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 company has a fifty day simple moving average of $71.50 and a two-hundred day simple moving average of $68.03. The firm has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the business earned $0.72 earnings per share. CocaCola’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.96%. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

Insider Buying and Selling at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated 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 owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. 0.97% of the stock is owned by insiders.

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.