Dividend Assets Capital LLC Grows Holdings in The Coca-Cola Company (NYSE:KO)

Dividend Assets Capital LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 13.4% in the first quarter, HoldingsChannel.com reports. The fund owned 10,440 shares of the company’s stock after purchasing an additional 1,233 shares during the period. Dividend Assets Capital LLC’s holdings in Coca-Cola were worth $748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in Coca-Cola in the fourth quarter valued at $241,000. Brighton Jones LLC boosted its stake in Coca-Cola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Coca-Cola during the fourth quarter worth about $24,472,000. Revolve Wealth Partners LLC increased its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the period. Finally, WCM Investment Management LLC increased its stake in Coca-Cola by 145.6% in the 4th quarter. WCM Investment Management LLC now owns 64,128 shares of the company’s stock valued at $3,978,000 after buying an additional 38,017 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. UBS Group raised their target price on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $76.00.

Insider Activity at Coca-Cola

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 shares were 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 in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The shares were 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 owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 0.6%

Shares of NYSE KO opened at $71.76 on Tuesday. The company has a market cap of $308.89 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The stock’s 50 day simple moving average is $71.39 and its 200 day simple moving average is $67.68. 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 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO) last announced its quarterly 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

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.