Mission Wealth Management LP Buys 3,757 Shares of The Coca-Cola Company (NYSE:KO)

Mission Wealth Management LP grew its stake in The Coca-Cola Company (NYSE:KO) by 10.1% in the first quarter, HoldingsChannel reports. The fund owned 41,136 shares of the company’s stock after acquiring an additional 3,757 shares during the period. Mission Wealth Management LP’s holdings in Coca-Cola were worth $2,946,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Peachtree Investment Partners LLC raised its position in shares of Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after purchasing an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. increased its stake in Coca-Cola by 3.8% during the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock valued at $309,000 after purchasing an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC raised its holdings in Coca-Cola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after buying an additional 161 shares during the last quarter. Excalibur Management Corp lifted its stake in shares of Coca-Cola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its holdings in shares of Coca-Cola by 3.0% during the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after buying an additional 167 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Down 0.7%

Shares of KO stock opened at $70.51 on Tuesday. 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 company has a market cap of $303.50 billion, a price-to-earnings ratio of 28.55, a PEG 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 $71.60 and a 200-day moving average price of $67.94.

Coca-Cola (NYSE:KO) last released its quarterly 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Insider Buying and Selling at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction 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 transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction on Friday, May 30th. The stock was 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 directly 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 have sold 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. JPMorgan Chase & Co. upped their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Royal Bank of Canada increased their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of Coca-Cola in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company 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.