The Coca-Cola Company (NYSE:KO) Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 3.9% in the first quarter, HoldingsChannel reports. The fund owned 6,424 shares of the company’s stock after selling 264 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Coca-Cola were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $31,000. REAP Financial Group LLC grew its stake in Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. grew its stake in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last ninety days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of Coca-Cola in a research note on Monday, June 9th. Finally, Piper Sandler increased their price target 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. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $76.00.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.51 on Tuesday. The firm’s 50 day moving average price is $71.60 and its 200-day moving average price is $67.94. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market cap of $303.50 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

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.