Wealth Advisory Solutions LLC Decreases Stake in CocaCola Company (The) (NYSE:KO)

Wealth Advisory Solutions LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 29.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,159 shares of the company’s stock after selling 1,330 shares during the period. Wealth Advisory Solutions LLC’s holdings in CocaCola were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new position in shares of CocaCola during the 4th quarter valued at about $27,000. Garde Capital Inc. purchased a new position in shares of CocaCola during the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 360 shares during the period. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the period. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 0.4%

KO opened at $69.99 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The business has a 50 day simple moving average of $71.02 and a 200-day simple moving average of $68.71. The stock has a market capitalization of $301.24 billion, a P/E ratio of 27.98, a P/E/G ratio of 3.72 and a beta of 0.45. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

Insider Activity

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 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. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KO shares. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. 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. Royal Bank Of Canada lifted their target price on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $76.27.

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.