Wealth Alliance LLC Buys 2,833 Shares of CocaCola Company (The) (NYSE:KO)

Wealth Alliance LLC lifted its stake in CocaCola Company (The) (NYSE:KO) by 19.1% during the first quarter, HoldingsChannel reports. The firm owned 17,631 shares of the company’s stock after purchasing an additional 2,833 shares during the period. Wealth Alliance LLC’s holdings in CocaCola were worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new position in CocaCola during the 1st quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in CocaCola during the 4th quarter worth about $27,000. Garde Capital Inc. bought a new position in CocaCola during the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. grew its holdings in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Finally, REAP Financial Group LLC grew its holdings in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on KO. Royal Bank Of Canada increased their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $76.71.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on 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 $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 sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is owned by insiders.

CocaCola Stock Performance

Shares of CocaCola stock opened at $69.88 on Monday. The firm has a market capitalization of $300.78 billion, a P/E ratio of 27.95, a PEG ratio of 3.66 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The company has a 50 day moving average price of $70.71 and a 200 day moving average price of $69.17. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the firm posted $0.72 EPS. CocaCola’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

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.