ERTS Wealth Advisors LLC Sells 1,508 Shares of CocaCola Company (The) (NYSE:KO)

ERTS Wealth Advisors LLC lowered its holdings in shares of CocaCola Company (The) (NYSE:KO) by 33.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,001 shares of the company’s stock after selling 1,508 shares during the period. ERTS Wealth Advisors LLC’s holdings in CocaCola were worth $215,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in CocaCola during the fourth quarter worth $241,000. Brighton Jones LLC lifted its stake in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of CocaCola during the 4th quarter worth about $24,472,000. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its stake in CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after buying an additional 2,072 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KO shares. 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 research report on Wednesday, April 30th. Royal Bank Of Canada increased their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Piper Sandler upped their price objective on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $76.00.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction 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. The trade was a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly 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 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. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Down 0.5%

Shares of CocaCola stock opened at $68.84 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. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $296.32 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.63 and a beta of 0.46. The firm’s 50-day moving average price is $71.50 and its two-hundred day moving average price is $68.03.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

CocaCola Company 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.