Norris Perne & French LLP MI Raises Stake in The Coca-Cola Company (NYSE:KO)

Norris Perne & French LLP MI lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 5.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,430 shares of the company’s stock after purchasing an additional 586 shares during the quarter. Norris Perne & French LLP MI’s holdings in Coca-Cola were worth $699,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Enterprise Bank & Trust Co grew its stake in shares of Coca-Cola by 3.4% during the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares in the last quarter. Goelzer Investment Management Inc. grew its stake in shares of Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after acquiring an additional 169 shares in the last quarter. Elk River Wealth Management LLC grew its stake in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after buying an additional 170 shares in the last quarter. KRS Capital Management LLC grew its stake in shares of Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after buying an additional 170 shares in the last quarter. Finally, Wayfinding Financial LLC grew its stake in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Morgan Stanley raised their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Trading Down 0.4 %

Shares of NYSE:KO traded down $0.26 during midday trading on Friday, hitting $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The stock has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.61 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The business’s 50-day moving average price is $62.72 and its 200 day moving average price is $60.77. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.