Lokken Investment Group LLC Trims Position in CocaCola Company (The) (NYSE:KO)

Lokken Investment Group LLC lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,979 shares of the company’s stock after selling 201 shares during the period. Lokken Investment Group LLC’s holdings in CocaCola were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Apollon Financial LLC purchased a new stake in CocaCola in the 1st quarter valued at about $213,000. Transcendent Capital Group LLC raised its stake in shares of CocaCola by 20.7% in the 1st quarter. Transcendent Capital Group LLC now owns 2,820 shares of the company’s stock valued at $202,000 after acquiring an additional 484 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of CocaCola by 4.3% in the 1st quarter. Catalyst Financial Partners LLC now owns 22,560 shares of the company’s stock valued at $1,616,000 after acquiring an additional 934 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of CocaCola in the 1st quarter valued at approximately $628,000. Finally, Turtle Creek Wealth Advisors LLC raised its stake in shares of CocaCola by 391.9% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 57,770 shares of the company’s stock valued at $4,137,000 after acquiring an additional 46,026 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred 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 owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KO. JPMorgan Chase & Co. boosted 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. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus target price of $76.71.

CocaCola Trading Up 0.2%

NYSE KO opened at $69.89 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market capitalization of $300.83 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. The firm has a 50 day moving average of $70.90 and a two-hundred day moving average of $68.90.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.92%. CocaCola’s dividend payout ratio is presently 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.