Ferguson Wellman Capital Management Inc. Acquires 14,982 Shares of The Coca-Cola Company (NYSE:KO)

Ferguson Wellman Capital Management Inc. increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 56.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,361 shares of the company’s stock after acquiring an additional 14,982 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Coca-Cola were worth $2,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $31,000. REAP Financial Group LLC boosted its stake in Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $72.03 on Thursday. 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 12 month low of $60.62 and a 12 month high of $74.38. The stock has a 50 day moving average of $71.42 and a 200 day moving average of $67.74. The firm has a market cap of $310.02 billion, a PE ratio of 29.16, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for 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 revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KO. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, 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 research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $76.00.

About Coca-Cola

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.