Topsail Wealth Management LLC Invests $219,000 in CocaCola Company (The) (NYSE:KO)

Topsail Wealth Management LLC purchased a new stake in CocaCola Company (The) (NYSE:KO) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,040 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. acquired a new stake in CocaCola in the 1st quarter valued at $216,000. Voleon Capital Management LP purchased a new position in CocaCola in the 4th quarter valued at $2,513,000. Cornerstone Wealth Management LLC lifted its holdings in CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in CocaCola by 31.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Finally, StoneX Group Inc. lifted its holdings in CocaCola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. JPMorgan Chase & Co. raised their price objective on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. UBS Group raised their price objective on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, Royal Bank Of Canada lifted their target price on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $76.27.

CocaCola Price Performance

KO stock opened at $69.65 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. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The business has a 50 day moving average price of $71.02 and a 200 day moving average price of $68.71. The stock has a market cap of $299.80 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 3.72 and a beta of 0.45.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share 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 company 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 revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’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 approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by insiders.

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.