Buck Wealth Strategies LLC Reduces Position in CocaCola Company (The) (NYSE:KO)

Buck Wealth Strategies LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO) by 1.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,205 shares of the company’s stock after selling 1,909 shares during the quarter. CocaCola comprises 1.8% of Buck Wealth Strategies LLC’s investment portfolio, making the stock its 19th biggest holding. Buck Wealth Strategies LLC’s holdings in CocaCola were worth $10,113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Peachtree Investment Partners LLC grew its stake in CocaCola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after buying an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. grew its stake in CocaCola by 3.8% during the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after buying an additional 159 shares during the last quarter. Fort Sheridan Advisors LLC grew its stake in CocaCola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after buying an additional 161 shares during the last quarter. Excalibur Management Corp grew its stake in CocaCola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares during the last quarter. Finally, Tradition Wealth Management LLC grew its stake in CocaCola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the business’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 sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KO shares. Royal Bank Of Canada raised 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. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Piper Sandler lifted their target price on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, UBS Group lifted their target price on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two equities 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 company’s stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average price target of $76.00.

CocaCola Stock Down 0.5%

CocaCola stock opened at $68.84 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $296.32 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46. The stock’s 50 day moving average price is $71.50 and its 200 day moving average price is $68.07.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company 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 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 yield of 2.96%. CocaCola’s payout ratio 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.