Accurate Wealth Management LLC Raises Stock Position in The Coca-Cola Company (NYSE:KO)

Accurate Wealth Management LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,243 shares of the company’s stock after buying an additional 1,414 shares during the period. Accurate Wealth Management LLC’s holdings in Coca-Cola were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the fourth quarter worth $31,000. REAP Financial Group LLC boosted its stake in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. raised its stake in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.6%

NYSE KO opened at $71.76 on Tuesday. The Coca-Cola Company has a one year low of $60.62 and a one year 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. The company has a market capitalization of $308.89 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company’s 50-day simple moving average is $71.39 and its two-hundred day simple moving average is $67.68.

Coca-Cola (NYSE:KO) last released 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. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 81.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KO shares. Evercore ISI lifted their price target 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. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Buy” and an average target price of $76.00.

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.