HighPoint Advisor Group LLC Has $5.75 Million Stock Holdings in CocaCola Company (The) (NYSE:KO)

HighPoint Advisor Group LLC raised its stake in CocaCola Company (The) (NYSE:KO) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,473 shares of the company’s stock after buying an additional 1,415 shares during the quarter. HighPoint Advisor Group LLC’s holdings in CocaCola were worth $5,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new position in CocaCola in the first quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in CocaCola during the 4th quarter worth approximately $27,000. Garde Capital Inc. acquired a new stake in CocaCola during the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its holdings in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the period. Finally, REAP Financial Group LLC raised its holdings in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KO. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Royal Bank Of Canada boosted their price target on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Cfra Research upgraded CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, CocaCola has an average rating of “Buy” and a consensus target price of $76.71.

Insider Activity

In related 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The stock was 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 of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Price Performance

Shares of CocaCola stock opened at $70.22 on Monday. 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 Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market capitalization of $302.23 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. The business’s 50 day simple moving average is $70.71 and its two-hundred day simple moving average is $69.17.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, September 15th. CocaCola’s payout ratio is currently 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.