NavPoint Financial Inc. Buys Shares of 3,444 The Coca-Cola Company (NYSE:KO)

NavPoint Financial Inc. bought a new stake in The Coca-Cola Company (NYSE:KO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,444 shares of the company’s stock, valued at approximately $247,000.

Other large investors have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth about $31,000. REAP Financial Group LLC lifted its holdings in shares of Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola during the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. raised its holdings in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the firm’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 sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,664 shares of company stock valued at $31,730,532. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on KO shares. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, UBS Group raised their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $75.81.

Coca-Cola Stock Up 0.6%

Shares of NYSE:KO opened at $71.37 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a 50 day moving average of $71.39 and a two-hundred day moving average of $67.60. The company has a market capitalization of $307.20 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

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.