KPP Advisory Services LLC Acquires 7,289 Shares of CocaCola Company (The) (NYSE:KO)

KPP Advisory Services LLC grew its holdings in CocaCola Company (The) (NYSE:KO) by 159.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,853 shares of the company’s stock after acquiring an additional 7,289 shares during the period. KPP Advisory Services LLC’s holdings in CocaCola were worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in shares of CocaCola during the fourth quarter valued at about $428,000. Finally, FFT Wealth Management LLC grew its position in shares of CocaCola by 10.6% during the fourth quarter. FFT Wealth Management LLC now owns 6,988 shares of the company’s stock valued at $435,000 after purchasing an additional 672 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $69.66 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock has a market cap of $299.84 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 3.68 and a beta of 0.46. The firm has a 50-day moving average of $71.38 and a two-hundred day moving average of $68.18. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the 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 sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value 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 represents a 30.14% 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 valued at $29,923,985 over the last ninety days. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Piper Sandler lifted their target price on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.