Johnson & White Wealth Management LLC Has $1.02 Million Stake in The Coca-Cola Company (NYSE:KO)

Johnson & White Wealth Management LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,290 shares of the company’s stock after acquiring an additional 293 shares during the period. Johnson & White Wealth Management LLC’s holdings in Coca-Cola were worth $1,023,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $2,513,000. Newbridge Financial Services Group Inc. grew its holdings in Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock valued at $1,663,000 after buying an additional 10,240 shares during the last quarter. Lockheed Martin Investment Management Co. grew its holdings in Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company’s stock valued at $13,634,000 after buying an additional 30,650 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in Coca-Cola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after buying an additional 204,681 shares during the last quarter. Finally, Buck Wealth Strategies LLC grew its holdings in Coca-Cola by 38.0% in the 4th quarter. Buck Wealth Strategies LLC now owns 143,114 shares of the company’s stock valued at $8,910,000 after buying an additional 39,409 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on KO shares. UBS Group raised 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. Royal Bank of Canada raised their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Piper Sandler raised 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. Finally, Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $75.81.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 496,164 shares of company stock worth $35,671,587. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Up 0.3%

Shares of KO opened at $71.39 on Thursday. The stock has a fifty day moving average price of $71.41 and a two-hundred day moving average price of $67.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $307.28 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 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 company posted $0.72 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.86%. Coca-Cola’s payout ratio is 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.