Coastwise Capital Group LLC Has $1.36 Million Holdings in CocaCola Company (The) (NYSE:KO)

Coastwise Capital Group LLC grew its stake in CocaCola Company (The) (NYSE:KO) by 18.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,916 shares of the company’s stock after buying an additional 2,956 shares during the period. CocaCola makes up approximately 1.1% of Coastwise Capital Group LLC’s holdings, making the stock its 25th biggest position. Coastwise Capital Group LLC’s holdings in CocaCola were worth $1,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola in the first quarter valued at about $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter valued at about $30,000. Crowley Wealth Management Inc. bought a new stake in shares of CocaCola in the fourth quarter valued at about $27,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Moser Wealth Advisors LLC lifted its stake in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $36,000 after buying an additional 409 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola has an average rating of “Buy” and an average price target of $76.71.

CocaCola Stock Down 1.0%

CocaCola stock opened at $69.88 on Friday. The firm has a market capitalization of $300.78 billion, a PE ratio of 27.95, a P/E/G ratio of 3.66 and a beta of 0.45. The company’s 50-day moving average is $70.71 and its 200-day moving average is $69.11. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO) last announced its 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. 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 business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. 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%.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on 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 transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

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.