Good Life Advisors LLC Has $4.06 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Good Life Advisors LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,705 shares of the company’s stock after acquiring an additional 1,504 shares during the period. Good Life Advisors LLC’s holdings in Coca-Cola were worth $4,061,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $3,402,151,000. Capital International Investors grew its position in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Coca-Cola during the fourth quarter valued at about $500,192,000. Finally, Franklin Resources Inc. lifted 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 valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction dated 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. In the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

NYSE KO opened at $70.94 on Monday. The firm has a market cap of $305.36 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a 50 day moving average of $71.56 and a 200-day moving average of $67.89.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm 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 revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KO shares. Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Royal Bank of Canada upped their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. 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 report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two equities research 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 MarketBeat, Coca-Cola has a consensus rating of “Buy” and a consensus price target of $76.00.

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.