The Coca-Cola Company (NYSE:KO) Shares Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 18.5% in the first quarter, HoldingsChannel.com reports. The fund owned 6,446 shares of the company’s stock after buying an additional 1,006 shares during the quarter. Pines Wealth Management LLC’s holdings in Coca-Cola were worth $441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in Coca-Cola in the fourth quarter worth approximately $241,000. Brighton Jones LLC lifted its holdings in shares of Coca-Cola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $24,472,000. Revolve Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the period. Finally, Consolidated Portfolio Review Corp lifted its holdings in shares of Coca-Cola by 17.1% in the fourth quarter. Consolidated Portfolio Review Corp now owns 5,314 shares of the company’s stock valued at $331,000 after buying an additional 775 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada increased their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Buy” and an average target price of $75.81.

Coca-Cola Price Performance

KO stock opened at $71.37 on Friday. The stock has a 50-day moving average price of $71.39 and a two-hundred day moving average price of $67.60. The stock has a market cap of $307.20 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

Coca-Cola (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. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola 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 completion of the sale, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock valued at $31,730,532 in the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola 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.