Norris Perne & French LLP MI Has $754,000 Holdings in CocaCola Company (The) (NYSE:KO)

Norris Perne & French LLP MI trimmed its position in shares of CocaCola Company (The) (NYSE:KO) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,526 shares of the company’s stock after selling 656 shares during the period. Norris Perne & French LLP MI’s holdings in CocaCola were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in CocaCola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new position in shares of CocaCola in the fourth quarter valued at about $31,000. REAP Financial Group LLC lifted its stake in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of CocaCola during the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. grew its stake in CocaCola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler lifted their price target on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Two investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $76.00.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company’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 transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

CocaCola Trading Down 0.7%

Shares of CocaCola stock opened at $69.15 on Thursday. The firm’s 50-day moving average price is $71.59 and its two-hundred day moving average price is $67.96. The company has a market capitalization of $297.63 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.65 and a beta of 0.46. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.95%. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

About CocaCola

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.