Cornerstone Wealth Group LLC Boosts Position in The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Group LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 124.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,542 shares of the company’s stock after purchasing an additional 12,501 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Coca-Cola were worth $1,379,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. ZRC Wealth Management LLC lifted its position in shares of Coca-Cola by 213.3% in 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 in the last quarter. Tidemark LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction that occurred 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 approximately $2,129,621.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were 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 approximately $10,358,962.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Coca-Cola stock opened at $63.65 on Monday. The stock’s 50-day moving average is $62.72 and its 200-day moving average is $60.78. The company has a market cap of $274.20 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.60 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 12 month low of $51.55 and a 12 month 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 business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the topic of several recent research reports. Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have given 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 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.