Curated Wealth Partners LLC Invests $221,000 in The Coca-Cola Company (NYSE:KO)

Curated Wealth Partners LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the first quarter, HoldingsChannel reports. The firm purchased 3,089 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of KO. Norges Bank purchased a new position in shares of Coca-Cola in the 4th quarter worth $3,402,151,000. Capital International Investors grew its holdings in Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Raymond James Financial Inc. purchased a new stake in Coca-Cola in the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. raised its stake 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 during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on KO shares. 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 note on Friday, February 28th. 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 note on Wednesday, April 30th. 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. 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 note on Monday, April 21st. Finally, 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 note on Wednesday, April 30th. 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 stock. According to MarketBeat, Coca-Cola presently has an average rating of “Buy” and an average target price of $76.00.

Coca-Cola Stock Up 0.6%

Shares of KO opened at $71.76 on Tuesday. The business’s 50 day moving average is $71.39 and its 200 day moving average is $67.68. The company has a market capitalization of $308.89 billion, a PE ratio of 29.05, a price-to-earnings-growth 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. 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 issued its earnings results 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. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. 0.97% of the stock is owned by corporate insiders.

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.