The Coca-Cola Company (NYSE:KO) Position Lifted by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 26,733 shares of the company’s stock after buying an additional 981 shares during the quarter. Coca-Cola accounts for about 1.4% of Wolff Wiese Magana LLC’s holdings, making the stock its 26th biggest holding. Wolff Wiese Magana LLC’s holdings in Coca-Cola were worth $1,636,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. ZRC Wealth Management LLC raised its stake in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Criterion Capital Advisors LLC acquired a new position in Coca-Cola during the 4th quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola during the 4th quarter valued at approximately $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KO. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays lifted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Evercore ISI lifted their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.21 during midday trading on Monday, reaching $63.44. The company’s stock had a trading volume of 3,828,782 shares, compared to its average volume of 13,051,398. The company has a market cap of $273.30 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $62.72 and a 200 day moving average price of $60.78.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities research analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 223,665 shares of company stock worth $13,995,465. 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.