Parsons Capital Management Inc. RI Buys 346 Shares of The Coca-Cola Company (NYSE:KO)

Parsons Capital Management Inc. RI increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,508 shares of the company’s stock after acquiring an additional 346 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Coca-Cola were worth $8,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter valued at $31,000. REAP Financial Group LLC raised its stake in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. raised its stake in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $71.76 on Tuesday. 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 Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market capitalization of $308.89 billion, a P/E ratio of 29.05, a PEG ratio of 3.79 and a beta of 0.46. The business has a fifty day moving average of $71.39 and a 200 day moving average of $67.68.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Coca-Cola’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $76.00.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.