Douglas Lane & Associates LLC Buys 3,901 Shares of The Coca-Cola Company (NYSE:KO)

Douglas Lane & Associates LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,034,913 shares of the company’s stock after buying an additional 3,901 shares during the quarter. Coca-Cola makes up approximately 1.1% of Douglas Lane & Associates LLC’s portfolio, making the stock its 29th largest holding. Douglas Lane & Associates LLC’s holdings in Coca-Cola were worth $74,120,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new stake in Coca-Cola during the fourth quarter valued at about $241,000. Brighton Jones LLC lifted its holdings in Coca-Cola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $24,472,000. Revolve Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares in the last quarter. Finally, Hunter Associates Investment Management LLC lifted its holdings in shares of Coca-Cola by 8.8% in the fourth quarter. Hunter Associates Investment Management LLC now owns 11,500 shares of the company’s stock worth $717,000 after buying an additional 927 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.9%

Shares of NYSE KO opened at $72.13 on Friday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. 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 firm’s 50 day simple moving average is $71.35 and its two-hundred day simple moving average is $67.29. The stock has a market capitalization of $310.47 billion, a P/E ratio of 29.20, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the business earned $0.72 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 229,761 shares of company stock worth $16,474,587 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KO shares. Piper Sandler increased their price target 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. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $75.81.

Coca-Cola 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.