Smith Salley Wealth Management Grows Position in CocaCola Company (The) (NYSE:KO)

Smith Salley Wealth Management lifted its position in CocaCola Company (The) (NYSE:KO) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 61,239 shares of the company’s stock after purchasing an additional 1,104 shares during the period. Smith Salley Wealth Management’s holdings in CocaCola were worth $4,386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $25,000. Garde Capital Inc. purchased a new position in CocaCola during the 1st quarter valued at about $30,000. Crowley Wealth Management Inc. bought a new position in CocaCola during the 4th quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. lifted its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares during the period. Finally, Moser Wealth Advisors LLC lifted its holdings in CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock worth $36,000 after buying an additional 409 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owned 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by corporate insiders.

CocaCola Price Performance

KO stock opened at $70.77 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The firm has a market capitalization of $304.61 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 3.69 and a beta of 0.46. The firm has a 50 day moving average price of $71.21 and a 200-day moving average price of $68.40. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

Several research firms have recently issued reports on KO. Royal Bank Of Canada boosted their target price on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. UBS Group raised their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus target price of $76.27.

CocaCola Company 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.