Congress Asset Management Co. Has $1.48 Million Position in The Coca-Cola Company (NYSE:KO)

Congress Asset Management Co. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,661 shares of the company’s stock after selling 290 shares during the period. Congress Asset Management Co.’s holdings in Coca-Cola were worth $1,480,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the fourth quarter worth $31,000. REAP Financial Group LLC raised its holdings in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. raised its holdings in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.6%

Coca-Cola stock opened at $71.37 on Monday. The company has a market cap of $307.20 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a fifty day simple moving average of $71.39 and a 200 day simple moving average of $67.63. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, UBS Group increased their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $75.81.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock worth $31,730,532 over the last quarter. 0.97% of the stock is currently owned by insiders.

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.