Phillips Wealth Planners LLC Buys 6,940 Shares of CocaCola Company (The) (NYSE:KO)

Phillips Wealth Planners LLC increased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 186.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,657 shares of the company’s stock after purchasing an additional 6,940 shares during the period. Phillips Wealth Planners LLC’s holdings in CocaCola were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of CocaCola by 18.5% during the fourth 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 bought a new position in shares of CocaCola during the fourth quarter valued at approximately $3,402,151,000. Northern Trust Corp boosted its stake in shares of CocaCola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Trading Down 0.8%

NYSE KO opened at $69.66 on Thursday. The company has a fifty day simple moving average of $71.38 and a two-hundred day simple moving average of $68.18. The stock has a market cap of $299.84 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.68 and a beta of 0.46. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, 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 position. 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 over the last 90 days. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KO. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Piper Sandler increased their target price on shares of CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada increased their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $76.27.

CocaCola 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.