SeaCrest Wealth Management LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

SeaCrest Wealth Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,816 shares of the company’s stock after selling 951 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Coca-Cola were worth $1,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Procyon Advisors LLC boosted its holdings in Coca-Cola by 9.2% in the first quarter. Procyon Advisors LLC now owns 77,373 shares of the company’s stock worth $5,541,000 after acquiring an additional 6,534 shares in the last quarter. Davis Capital Management raised its position in shares of Coca-Cola by 3.2% in the 1st quarter. Davis Capital Management now owns 28,843 shares of the company’s stock valued at $2,066,000 after purchasing an additional 903 shares during the last quarter. Stablepoint Partners LLC boosted its stake in Coca-Cola by 7.5% in the 1st quarter. Stablepoint Partners LLC now owns 115,882 shares of the company’s stock worth $8,299,000 after purchasing an additional 8,049 shares in the last quarter. Atwater Malick LLC grew its position in Coca-Cola by 3.7% during the 1st quarter. Atwater Malick LLC now owns 144,421 shares of the company’s stock worth $10,343,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Curat Global LLC acquired a new position in Coca-Cola during the 1st quarter valued at approximately $82,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $70.89 on Friday. The stock has a market capitalization of $305.11 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.79 and a beta of 0.46. The company’s fifty day moving average price is $71.40 and its 200 day moving average price is $67.51. 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 1 year low of $60.62 and a 1 year high of $74.38.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS 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 analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Buy” and an average target price of $75.81.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,664 shares of company stock valued at $31,730,532. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.