Cornerstone Wealth Management LLC Purchases 3,430 Shares of The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Management LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 3.3% during the first quarter, HoldingsChannel reports. The firm owned 106,992 shares of the company’s stock after purchasing 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 filing with the SEC.

Several other large investors have also made changes to their positions in the business. Tidemark LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Private Wealth Management Group LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $27,000. ZRC Wealth Management LLC increased its stake in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new position in Coca-Cola in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.3 %

KO stock traded up $0.18 during trading on Thursday, hitting $63.33. The company had a trading volume of 9,154,198 shares, compared to its average volume of 11,000,689. The stock has a market cap of $272.82 billion, a price-to-earnings ratio of 25.33, a PEG 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. The firm has a 50-day moving average price of $62.82 and a 200-day moving average price of $60.85. 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 results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock worth $13,995,465 over the last three months. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KO shares. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. UBS Group boosted their price target 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 increased 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. Barclays lifted their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola 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.