MRA Advisory Group Buys 1,253 Shares of The Coca-Cola Company (NYSE:KO)
by Jessica Moore · The Cerbat GemMRA Advisory Group increased its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,299 shares of the company’s stock after purchasing an additional 1,253 shares during the quarter. MRA Advisory Group’s holdings in Coca-Cola were worth $451,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Peachtree Investment Partners LLC boosted its stake in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after buying an additional 157 shares during the period. Fort Sheridan Advisors LLC boosted its stake in Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after buying an additional 161 shares during the period. Excalibur Management Corp boosted its stake in Coca-Cola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares during the period. Tradition Wealth Management LLC boosted its stake in Coca-Cola by 3.0% during the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after buying an additional 167 shares during the period. Finally, Aviance Capital Partners LLC boosted its stake in Coca-Cola by 0.7% during the fourth quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company’s stock worth $1,493,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction 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 owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 440,664 shares of company stock valued at $31,730,532. 0.97% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Piper Sandler increased their target price 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. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $75.81.
View Our Latest Stock Report on Coca-Cola
Coca-Cola Price Performance
KO stock opened at $70.89 on Friday. The business has a 50 day moving average price of $71.40 and a 200 day moving average price of $67.51. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a market cap of $305.11 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share 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 business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. Coca-Cola’s dividend payout ratio is presently 81.60%.
About Coca-Cola
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.
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