Brown Miller Wealth Management LLC Sells 1,556 Shares of The Coca-Cola Company (NYSE:KO)

Brown Miller Wealth Management LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 30.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,562 shares of the company’s stock after selling 1,556 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Coca-Cola were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Voleon Capital Management LP purchased a new position in Coca-Cola during the fourth quarter worth $2,513,000. Clark Capital Management Group Inc. boosted its stake in Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after buying an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd boosted its stake in Coca-Cola by 8.1% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock worth $652,767,000 after buying an additional 783,161 shares during the period. StoneX Group Inc. boosted its stake in Coca-Cola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock worth $3,224,000 after buying an additional 23,009 shares during the period. Finally, Fortress Financial Group LLC purchased a new position in Coca-Cola during the fourth quarter worth $416,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last quarter. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on KO. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a research report on Monday, June 9th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $76.00.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $70.51 on Tuesday. The firm has a market cap of $303.50 billion, a P/E ratio of 28.55, a P/E/G 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 12 month low of $60.62 and a 12 month high of $74.38. The stock’s fifty day moving average price is $71.60 and its 200-day moving average price is $67.94.

Coca-Cola (NYSE:KO) last posted 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Coca-Cola 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.