Elwood & Goetz Wealth Advisory Group LLC Boosts Stake in CocaCola Company (The) (NYSE:KO)

Elwood & Goetz Wealth Advisory Group LLC grew its stake in CocaCola Company (The) (NYSE:KO) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,560 shares of the company’s stock after buying an additional 739 shares during the quarter. Elwood & Goetz Wealth Advisory Group LLC’s holdings in CocaCola were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Peachtree Investment Partners LLC boosted its holdings in CocaCola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after purchasing an additional 157 shares in the last quarter. Braun Bostich & Associates Inc. boosted its stake in shares of CocaCola by 3.8% in the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock valued at $309,000 after buying an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC boosted its stake in shares of CocaCola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after buying an additional 161 shares in the last quarter. Excalibur Management Corp boosted its stake in shares of CocaCola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after buying an additional 161 shares in the last quarter. Finally, Tradition Wealth Management LLC boosted its position in shares of 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 purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada boosted 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. JPMorgan Chase & Co. boosted 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, Piper Sandler boosted their target price on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and an average target price of $76.00.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value 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. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.5%

NYSE:KO opened at $68.84 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The business’s 50-day simple moving average is $71.50 and its 200 day simple moving average is $68.11. The stock has a market cap of $296.32 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. CocaCola’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. 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 is presently 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.