CVA Family Office LLC Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

CVA Family Office LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,570 shares of the company’s stock after purchasing an additional 1,156 shares during the period. CVA Family Office LLC’s holdings in Coca-Cola were worth $2,762,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KO. Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter valued at about $3,402,151,000. Capital International Investors grew its stake in shares of Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola in the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. grew its stake in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’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 sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 1.8%

Shares of NYSE:KO opened at $70.94 on Friday. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock’s fifty day moving average price is $71.56 and its 200-day moving average price is $67.84. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. Sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced 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 dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several research firms recently issued reports on KO. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of Coca-Cola in a research note on Monday, June 9th. UBS Group raised their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.00.

Coca-Cola 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.