CocaCola Company (The) (NYSE:KO) Shares Acquired by CapWealth Advisors LLC

CapWealth Advisors LLC boosted its position in shares of CocaCola Company (The) (NYSE:KO) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,772 shares of the company’s stock after purchasing an additional 2,732 shares during the period. CapWealth Advisors LLC’s holdings in CocaCola were worth $13,305,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in CocaCola during the 4th quarter valued at $3,402,151,000. Northern Trust Corp increased its position in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. increased its position in shares of CocaCola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Capital International Investors increased its position in shares of CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of CocaCola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock worth $1,529,537,000 after purchasing an additional 3,791,300 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CocaCola news, 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 value of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated 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 owned 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

Shares of NYSE:KO opened at $70.98 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a 50-day simple moving average of $71.06 and a 200 day simple moving average of $68.70. The company has a market cap of $305.52 billion, a PE ratio of 28.39, a P/E/G ratio of 3.74 and a beta of 0.45.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 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 firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. CocaCola’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is 81.60%.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. UBS Group boosted their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.27.

About CocaCola

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.