Stockman Wealth Management Inc. Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Stockman Wealth Management Inc. raised its position in shares of The Coca-Cola Company (NYSE:KO) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,507 shares of the company’s stock after buying an additional 322 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Coca-Cola were worth $681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Coca-Cola by 18.5% in 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 buying an additional 11,569,920 shares during the period. Norges Bank acquired a new position in Coca-Cola in the 4th quarter worth approximately $3,402,151,000. Northern Trust Corp increased its holdings in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. increased its holdings in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. Finally, Capital International Investors increased its holdings 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 buying an additional 12,222,885 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction 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 transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.8%

Shares of NYSE:KO opened at $70.94 on Monday. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. 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 business’s 50 day moving average price is $71.56 and its 200-day moving average price is $67.89.

Coca-Cola (NYSE:KO) last announced its earnings results 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company 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 $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola’s payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a report on Monday, June 9th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. UBS Group raised their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. 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 research note on Friday, February 28th. Finally, Royal Bank of Canada raised their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two equities 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. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Buy” and an average 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.