Mainsail Financial Group LLC Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Mainsail Financial Group LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,823 shares of the company’s stock after buying an additional 1,053 shares during the quarter. Mainsail Financial Group LLC’s holdings in Coca-Cola were worth $1,062,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of KO. Norges Bank acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $3,402,151,000. Capital International Investors grew its stake in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. grew its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.8%

Shares of NYSE KO opened at $72.36 on Wednesday. The company has a market cap of $311.44 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 stock’s 50 day simple moving average is $71.38 and its 200 day simple moving average is $67.72.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Two 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $76.00.

Insider Activity at Coca-Cola

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 transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by company 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.