Pines Wealth Management LLC Purchases 1,006 Shares of The Coca-Cola Company (NYSE:KO)

Pines Wealth Management LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 18.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,446 shares of the company’s stock after buying an additional 1,006 shares during the quarter. Pines Wealth Management LLC’s holdings in Coca-Cola were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Procyon Advisors LLC boosted its stake in shares of Coca-Cola by 9.2% during the first quarter. Procyon Advisors LLC now owns 77,373 shares of the company’s stock valued at $5,541,000 after purchasing an additional 6,534 shares in the last quarter. Davis Capital Management boosted its stake in shares of Coca-Cola by 3.2% during the first 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 in the last quarter. Stablepoint Partners LLC boosted its position in Coca-Cola by 7.5% during the 1st quarter. Stablepoint Partners LLC now owns 115,882 shares of the company’s stock valued at $8,299,000 after acquiring an additional 8,049 shares in the last quarter. Atwater Malick LLC boosted 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 valued at $10,343,000 after acquiring an additional 5,132 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Coca-Cola during the 1st quarter valued at $82,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated 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 owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51% 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 link. Also, CFO John Murphy sold 88,658 shares of the 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 directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,664 shares of company stock worth $31,730,532. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.6%

KO opened at $71.37 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business has a 50 day simple moving average of $71.39 and a 200-day simple moving average of $67.60. The stock has a market capitalization of $307.20 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’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 fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KO. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Piper Sandler raised their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $75.81.

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.