Financial Partners Group LLC Sells 475 Shares of CocaCola Company (The) (NYSE:KO)

Financial Partners Group LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,377 shares of the company’s stock after selling 475 shares during the quarter. Financial Partners Group LLC’s holdings in CocaCola were worth $600,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Peachtree Investment Partners LLC lifted its position in shares of CocaCola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares in the last quarter. Braun Bostich & Associates Inc. raised its stake in CocaCola by 3.8% in the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock valued at $309,000 after purchasing an additional 159 shares during the last quarter. Fort Sheridan Advisors LLC lifted its holdings in CocaCola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp boosted its stake in CocaCola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after purchasing an additional 161 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its stake in CocaCola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Down 1.3%

Shares of KO stock opened at $69.61 on Wednesday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market cap of $299.61 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 3.70 and a beta of 0.46. The company has a 50-day moving average of $71.60 and a two-hundred day moving average of $67.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, June 13th. CocaCola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada raised their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler upped their price target on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.00.

Insider Activity at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company’s 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 sale, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last three months. 0.90% of the stock is owned by company insiders.

About CocaCola

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.