Bingham Private Wealth LLC Increases Position in CocaCola Company (The) (NYSE:KO)

Bingham Private Wealth LLC lifted its holdings in CocaCola Company (The) (NYSE:KO) by 37.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,914 shares of the company’s stock after buying an additional 2,142 shares during the period. Bingham Private Wealth LLC’s holdings in CocaCola were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Financial Management Group Inc. purchased a new position in shares of CocaCola in the first quarter valued at $216,000. Voleon Capital Management LP purchased a new stake in CocaCola during the 4th quarter worth about $2,513,000. Cornerstone Wealth Management LLC lifted its holdings in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Finally, StoneX Group Inc. lifted its holdings in CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock worth $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Trading Down 1.0%

NYSE:KO opened at $69.88 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a market cap of $300.78 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. The company has a 50 day simple moving average of $70.71 and a two-hundred day simple moving average of $69.11.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping 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 in the previous year, the firm posted $0.72 EPS. The firm’s revenue was down .7% on a year-over-year basis. Research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is 81.60%.

Insider Activity at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were 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 in the company, valued at $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 quarter, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KO has been the topic of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. UBS Group increased 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. JPMorgan Chase & Co. increased their target price on 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 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, Royal Bank Of Canada increased 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. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.71.

CocaCola Company 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.