Pathway Financial Advisors LLC Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Pathway Financial Advisors LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,834 shares of the company’s stock after purchasing an additional 264 shares during the period. Pathway Financial Advisors LLC’s holdings in Coca-Cola were worth $346,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at $31,000. REAP Financial Group LLC raised its stake in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. raised its stake in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, 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 sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last ninety days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.00.

Coca-Cola Trading Down 1.8%

NYSE KO opened at $70.94 on Friday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a 50-day simple moving average of $71.56 and a 200-day simple moving average of $67.84. 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 firm has a market capitalization of $305.36 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results 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 business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. Coca-Cola’s dividend payout ratio is presently 81.60%.

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.