3,204 Shares in CocaCola Company (The) (NYSE:KO) Acquired by Holcombe Financial Inc.

Holcombe Financial Inc. acquired a new stake in CocaCola Company (The) (NYSE:KO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,204 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Smart Money Group LLC grew its stake in CocaCola by 21.9% in the first quarter. Smart Money Group LLC now owns 13,478 shares of the company’s stock valued at $965,000 after acquiring an additional 2,419 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of CocaCola by 23.2% in the first quarter. Resonant Capital Advisors LLC now owns 9,740 shares of the company’s stock valued at $703,000 after purchasing an additional 1,836 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of CocaCola by 154.0% during the first quarter. First Horizon Advisors Inc. now owns 501,255 shares of the company’s stock worth $35,900,000 after buying an additional 303,894 shares during the period. Revisor Wealth Management LLC grew its holdings in shares of CocaCola by 169.6% during the first quarter. Revisor Wealth Management LLC now owns 11,390 shares of the company’s stock worth $820,000 after buying an additional 7,165 shares in the last quarter. Finally, Drum Hill Capital LLC acquired a new stake in CocaCola in the 1st quarter valued at approximately $224,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $76.27.

CocaCola Trading Down 1.0%

Shares of CocaCola stock opened at $70.95 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The firm has a 50-day moving average of $71.12 and a 200-day moving average of $68.44. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $305.39 billion, a PE ratio of 28.38, a PEG ratio of 3.76 and a beta of 0.45.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. CocaCola’s dividend payout ratio is presently 81.60%.

Insider Activity

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated 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 directly owned 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares of the company’s stock, valued at $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. In the last three months, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by company insiders.

CocaCola 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.