Cvfg LLC Increases Position in CocaCola Company (The) (NYSE:KO)

Cvfg LLC lifted its position in shares of CocaCola Company (The) (NYSE:KO) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 9,367 shares of the company’s stock after purchasing an additional 288 shares during the period. Cvfg LLC’s holdings in CocaCola were worth $671,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola during the first quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new position in CocaCola during the fourth quarter valued at $2,513,000. Cornerstone Wealth Management LLC increased its holdings in CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after acquiring an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. lifted its stake in CocaCola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in shares of CocaCola 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 last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents a 24.32% decrease in their position. 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 over the last quarter. Company insiders own 0.97% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $69.66 on Thursday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $71.38 and a 200-day moving average price of $68.18. The firm has a market capitalization of $299.84 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.68 and a beta of 0.46.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KO shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Piper Sandler boosted their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $76.27.

CocaCola Company 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.