Beacon Financial Group Sells 4,086 Shares of The Coca-Cola Company (NYSE:KO)

Beacon Financial Group lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,609 shares of the company’s stock after selling 4,086 shares during the quarter. Beacon Financial Group’s holdings in Coca-Cola were worth $4,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $241,000. Brighton Jones LLC lifted its holdings in shares of Coca-Cola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing 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 4th quarter worth $24,472,000. Revolve Wealth Partners LLC boosted its position in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Finally, Tempus Wealth Planning LLC grew its stake in Coca-Cola by 25.1% during the 4th quarter. Tempus Wealth Planning LLC now owns 4,768 shares of the company’s stock worth $297,000 after buying an additional 958 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $71.39 on Thursday. The business’s 50-day moving average is $71.41 and its two-hundred day moving average is $67.45. The company has a market capitalization of $307.28 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates 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 for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. 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 payout ratio is 81.60%.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,164 shares of company stock valued at $35,671,587 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on KO shares. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. UBS Group boosted their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Buy” and an average target price of $75.81.

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.