Weaver Capital Management LLC Raises Stock Position in CocaCola Company (The) (NYSE:KO)

Weaver Capital Management LLC lifted its position in CocaCola Company (The) (NYSE:KO) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,490 shares of the company’s stock after buying an additional 1,318 shares during the period. Weaver Capital Management LLC’s holdings in CocaCola were worth $1,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peachtree Investment Partners LLC increased its holdings in shares of CocaCola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares during the period. Braun Bostich & Associates Inc. increased its stake in CocaCola by 3.8% in the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock valued at $309,000 after buying an additional 159 shares during the period. Fort Sheridan Advisors LLC increased its stake in CocaCola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after buying an additional 161 shares during the period. Excalibur Management Corp increased its stake in CocaCola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after buying an additional 161 shares during the period. Finally, Tradition Wealth Management LLC increased its stake in CocaCola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $68.84 on Friday. The firm has a market capitalization of $296.32 billion, a PE ratio of 27.54, a P/E/G ratio of 3.63 and a beta of 0.46. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s 50-day simple moving average is $71.50 and its 200 day simple moving average is $68.03. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, June 13th. CocaCola’s payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Royal Bank Of Canada boosted their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group boosted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Piper Sandler boosted their price objective on shares of CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CocaCola presently has an average rating of “Buy” and an average target price of $76.00.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. 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. 0.97% of the stock is owned by insiders.

CocaCola 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.