Cornerstone Wealth Management LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Management LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,992 shares of the company’s stock after buying an additional 3,430 shares during the period. Cornerstone Wealth Management LLC’s holdings in Coca-Cola were worth $6,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Enterprise Bank & Trust Co boosted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas boosted its holdings in Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after purchasing an additional 168 shares in the last quarter. Goelzer Investment Management Inc. increased its position in 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 purchasing an additional 169 shares during the period. Elk River Wealth Management LLC raised its stake in shares of Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares in the last quarter. Finally, KRS Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.8% in the 4th 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 during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 223,665 shares of company stock valued at $13,995,465 in the last ninety days. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, StockNews.com cut 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 issued a buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola Price Performance

Shares of KO traded up $0.18 during trading hours on Thursday, reaching $63.33. 9,154,198 shares of the company traded hands, compared to its average volume of 11,000,689. The stock has a fifty day simple moving average of $62.82 and a 200 day simple moving average of $60.85. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The stock has a market capitalization of $272.82 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.