Money Concepts Capital Corp Has $6.96 Million Position in CocaCola Company (The) (NYSE:KO)

Money Concepts Capital Corp lifted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 97,132 shares of the company’s stock after buying an additional 4,555 shares during the period. Money Concepts Capital Corp’s holdings in CocaCola were worth $6,957,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Navis Wealth Advisors LLC lifted its holdings in CocaCola by 4.2% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company’s stock worth $257,000 after buying an additional 146 shares in the last quarter. Peachtree Investment Partners LLC increased its holdings in shares of CocaCola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. raised its holdings in CocaCola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after purchasing an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC raised its stake in CocaCola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after acquiring an additional 161 shares during the last quarter. Finally, Excalibur Management Corp increased its holdings in shares of CocaCola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Down 0.2%

Shares of KO stock opened at $69.51 on Friday. 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 fifty day moving average price of $71.31 and a 200 day moving average price of $68.23. The stock has a market cap of $299.20 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

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

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid 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 payout ratio is 81.60%.

Analysts Set New Price Targets

Several research firms have recently issued reports on KO. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Piper Sandler increased their price objective 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. UBS Group lifted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.27.

Insider Buying and Selling

In other news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The stock was 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. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last 90 days. 0.97% of the stock is owned by insiders.

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.