Castleview Partners LLC Has $594,000 Stock Holdings in CocaCola Company (The) (NYSE:KO)

Castleview Partners LLC grew its position in CocaCola Company (The) (NYSE:KO) by 29.1% during the 1st quarter, Holdings Channel reports. The firm owned 8,293 shares of the company’s stock after purchasing an additional 1,868 shares during the quarter. Castleview Partners LLC’s holdings in CocaCola were worth $594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of CocaCola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new position in CocaCola during the 4th quarter worth about $3,402,151,000. Northern Trust Corp lifted its position in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its position in CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its position in CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $68.84 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a market cap of $296.32 billion, a PE ratio of 27.54, a PEG ratio of 3.63 and a beta of 0.46. The company’s 50-day moving average is $71.50 and its two-hundred day moving average is $68.03.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.96%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target 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. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler upped their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.00.

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last ninety days. 0.97% of the stock is owned by insiders.

CocaCola Company 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.