Riverbend Wealth Management LLC Purchases 231 Shares of CocaCola Company (The) (NYSE:KO)

Riverbend Wealth Management LLC raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,851 shares of the company’s stock after purchasing an additional 231 shares during the quarter. Riverbend Wealth Management LLC’s holdings in CocaCola were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Voleon Capital Management LP bought a new stake in shares of CocaCola during the fourth quarter valued at about $2,513,000. Cornerstone Wealth Management LLC lifted its stake in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in CocaCola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after buying an additional 204,681 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in shares of CocaCola by 8.1% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after purchasing an additional 783,161 shares in the last quarter. Finally, StoneX Group Inc. grew its stake in shares of CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after buying an additional 23,009 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’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 value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KO shares. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Piper Sandler lifted their target price on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Cfra Research raised CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada raised their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price of $76.27.

CocaCola Stock Performance

Shares of CocaCola stock opened at $70.20 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a market cap of $302.16 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46. The business’s fifty day simple moving average is $71.42 and its 200-day simple moving average is $68.17. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share 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 for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

CocaCola 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.