Regent Peak Wealth Advisors LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Regent Peak Wealth Advisors LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,977 shares of the company’s stock after selling 4,052 shares during the period. Coca-Cola comprises approximately 2.2% of Regent Peak Wealth Advisors LLC’s portfolio, making the stock its 12th biggest holding. Regent Peak Wealth Advisors LLC’s holdings in Coca-Cola were worth $9,595,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Norges Bank bought a new stake in Coca-Cola during the 4th quarter valued at $3,402,151,000. Northern Trust Corp increased its holdings in shares of Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the period. Franklin Resources Inc. raised its position in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.6%

Shares of NYSE:KO opened at $71.37 on Friday. The stock’s 50-day moving average price is $71.39 and its 200-day moving average price is $67.60. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $307.20 billion, a P/E ratio of 28.89, a price-to-earnings-growth 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.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio is currently 81.60%.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value 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. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,664 shares of company stock valued at $31,730,532 over the last ninety days. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on KO. Evercore ISI increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group increased their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $75.81.

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.