Grant Private Wealth Management Inc Acquires 294 Shares of The Coca-Cola Company (NYSE:KO)

Grant Private Wealth Management Inc grew its holdings in The Coca-Cola Company (NYSE:KO) by 4.5% during the 1st quarter, Holdings Channel reports. The fund owned 6,766 shares of the company’s stock after buying an additional 294 shares during the period. Grant Private Wealth Management Inc’s holdings in Coca-Cola were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Norges Bank bought a new stake in shares of Coca-Cola during the 4th quarter valued at $3,402,151,000. Northern Trust Corp raised its position in shares of Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after purchasing an additional 3,811,756 shares during the period. Franklin Resources Inc. raised its position in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Finally, Capital International Investors raised its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 1.8%

Shares of Coca-Cola stock opened at $70.94 on Friday. The stock has a market cap of $305.36 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The stock’s 50 day simple moving average is $71.56 and its 200-day simple moving average is $67.87. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating 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 net margin of 22.59% and a return on equity of 45.37%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. UBS Group raised their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada raised their price objective on shares of Coca-Cola 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, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.