Williams Jones Wealth Management LLC. increased its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,245 shares of the company’s stock after acquiring an additional 8,456 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Coca-Cola were worth $8,137,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nauset Wealth Management. LLC acquired a new position in Coca-Cola during the first quarter valued at approximately $27,000. Delos Wealth Advisors LLC grew its holdings in Coca-Cola by 4,770.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after purchasing an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. acquired a new position in Coca-Cola during the first quarter valued at approximately $34,000. Hillsdale Investment Management Inc. acquired a new position in Coca-Cola during the first quarter valued at approximately $35,000. Finally, Rational Advisors LLC acquired a new position in Coca-Cola during the first quarter valued at approximately $37,000. Institutional investors own 68.93% of the company’s stock.
Analyst Ratings Changes
KO has been the subject of several research analyst reports. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. Morgan Stanley reduced their price target on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $70.00 price target on shares of Coca-Cola in a report on Tuesday, July 26th. Finally, HSBC upped their price target on shares of Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.59.
Coca-Cola Stock Performance
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $10.57 billion. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, research analysts anticipate that The Coca-Cola Company will post 2.46 EPS for the current year.
Coca-Cola Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s payout ratio is presently 79.64%.
In other news, CEO James Quincey sold 32,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $64.09, for a total value of $2,050,880.00. Following the transaction, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, Director Carolyn Everson purchased 983 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were acquired at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the purchase, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,435. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the transaction, the chief executive officer now owns 351,737 shares in the company, valued at $22,542,824.33. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $2,939,961 over the last ninety days. 0.98% of the stock is currently owned by company insiders.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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