Bleakley Financial Group LLC Has $8.78 Million Stock Position in CocaCola Company (The) (NYSE:KO)

Bleakley Financial Group LLC boosted its stake in CocaCola Company (The) (NYSE:KO) by 1.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 122,524 shares of the company’s stock after buying an additional 2,044 shares during the period. Bleakley Financial Group LLC’s holdings in CocaCola were worth $8,775,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MTM Investment Management LLC lifted its holdings in shares of CocaCola by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock worth $3,637,000 after acquiring an additional 144 shares during the period. Weatherly Asset Management L. P. lifted its stake in CocaCola by 5.8% in the 1st quarter. Weatherly Asset Management L. P. now owns 105,138 shares of the company’s stock valued at $7,575,000 after purchasing an additional 5,776 shares during the last quarter. Zullo Investment Group Inc. lifted its stake in CocaCola by 1.6% in the 1st quarter. Zullo Investment Group Inc. now owns 18,914 shares of the company’s stock valued at $1,355,000 after purchasing an additional 293 shares during the last quarter. Whitener Capital Management Inc. lifted its stake in CocaCola by 1.4% in the 1st quarter. Whitener Capital Management Inc. now owns 34,820 shares of the company’s stock valued at $2,494,000 after purchasing an additional 484 shares during the last quarter. Finally, Prudent Man Advisors LLC lifted its stake in CocaCola by 2.4% in the 1st quarter. Prudent Man Advisors LLC now owns 12,937 shares of the company’s stock valued at $1,007,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Up 0.2%

Shares of KO stock opened at $69.89 on Monday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The firm’s 50 day moving average is $70.90 and its 200 day moving average is $68.90. The stock has a market capitalization of $300.83 billion, a P/E ratio of 27.96, a P/E/G ratio of 3.66 and a beta of 0.45.

CocaCola (NYSE:KO) last issued its 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. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. Research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.51 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KO shares. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada raised their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $76.71.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value 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 filing with the SEC, which is available at this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated 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 transaction, the chief financial officer directly owned 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

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.