The Coca-Cola Company (NYSE:KO) Stock Holdings Lessened by Powers Advisory Group LLC

Powers Advisory Group LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 1.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,295 shares of the company’s stock after selling 295 shares during the period. Powers Advisory Group LLC’s holdings in Coca-Cola were worth $1,095,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KO. Voleon Capital Management LP acquired a new stake in Coca-Cola during the 4th quarter valued at $2,513,000. Clark Capital Management Group Inc. raised its stake in Coca-Cola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after purchasing an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd raised its stake in Coca-Cola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after purchasing an additional 783,161 shares during the period. StoneX Group Inc. raised its stake in Coca-Cola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after purchasing an additional 23,009 shares during the period. Finally, Fortress Financial Group LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $416,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.8%

Shares of NYSE:KO opened at $70.94 on Friday. The stock has a market capitalization of $305.36 billion, a PE ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a fifty day moving average price of $71.56 and a 200 day moving average price of $67.84. 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 quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Analysts expect that The Coca-Cola Company will post 2.96 EPS 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 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the company’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 sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research reports. Piper Sandler upped 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. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $76.00.

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.