Mainsail Financial Group LLC Acquires 335 Shares of The Coca-Cola Company (NYSE:KO)

Mainsail Financial Group LLC grew its position in The Coca-Cola Company (NYSE:KO) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,595 shares of the company’s stock after buying an additional 335 shares during the quarter. Mainsail Financial Group LLC’s holdings in Coca-Cola were worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. acquired a new position in Coca-Cola during the 4th quarter worth approximately $410,000. Beacon Pointe Advisors LLC increased its position in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after acquiring an additional 89,139 shares during the period. Birchcreek Wealth Management LLC increased its position in Coca-Cola by 12.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC boosted its stake in shares of Coca-Cola by 21.6% in the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in shares of Coca-Cola by 3.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after purchasing an additional 1,455 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.33 on Thursday. The firm has a 50-day moving average of $62.82 and a 200-day moving average of $60.85. The company has a market cap of $272.82 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Argus upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Insider Buying and Selling

In related 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 completion of the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,665 shares of company stock worth $13,995,465. Insiders own 0.97% of the company’s stock.

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.