Horst & Graben Wealth Management LLC Boosts Holdings in CocaCola Company (The) (NYSE:KO)

Horst & Graben Wealth Management LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,115 shares of the company’s stock after acquiring an additional 216 shares during the period. Horst & Graben Wealth Management LLC’s holdings in CocaCola were worth $653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of CocaCola in the 4th quarter valued at about $3,402,151,000. Capital International Investors increased its position in CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. Franklin Resources Inc. lifted its stake in CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of CocaCola by 8,419.4% in the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock valued at $426,927,000 after acquiring an additional 5,891,034 shares during the period. Finally, Capital Research Global Investors grew its position in shares of CocaCola by 119.0% during the fourth quarter. Capital Research Global Investors now owns 9,458,248 shares of the company’s stock worth $588,871,000 after acquiring an additional 5,139,352 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KO shares. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group upped their target price on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Cfra Research raised CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, CocaCola has an average rating of “Buy” and a consensus target price of $76.27.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the firm’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 value of $6,391,355.22. Following the completion of the transaction, the chief financial officer directly owned 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola 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 transaction, the executive vice president directly owned 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Trading Up 0.4%

NYSE:KO opened at $71.19 on Monday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The stock has a fifty day moving average price of $71.08 and a two-hundred day moving average price of $68.64. The stock has a market capitalization of $306.42 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.74 and a beta of 0.45.

CocaCola (NYSE:KO) last announced its quarterly 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 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 the consensus estimate of $11.23 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. CocaCola’s payout ratio is 81.60%.

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.