Secure Asset Management LLC Buys 4,178 Shares of The Coca-Cola Company (NYSE:KO)

Secure Asset Management LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,046 shares of the company’s stock after purchasing an additional 4,178 shares during the quarter. Secure Asset Management LLC’s holdings in Coca-Cola were worth $2,796,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KO. Tallon Kerry Patrick bought a new position in Coca-Cola during the fourth quarter worth about $241,000. Brighton Jones LLC lifted its position in shares of Coca-Cola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $24,472,000. Revolve Wealth Partners LLC raised its stake in Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. Finally, KPP Advisory Services LLC lifted its holdings in Coca-Cola by 16.0% during the 4th quarter. KPP Advisory Services LLC now owns 4,564 shares of the company’s stock valued at $284,000 after purchasing an additional 628 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of the company’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 completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 496,164 shares of company stock worth $35,671,587. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several research reports. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Two equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $71.23 on Wednesday. The company’s 50 day simple moving average is $71.39 and its 200 day simple moving average is $67.42. 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 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market capitalization of $306.59 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is currently 81.60%.

About Coca-Cola

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.