O Brien Wealth Partners LLC Has $122,000 Position in The Coca-Cola Company (NYSE:KO)

O Brien Wealth Partners LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 33.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,997 shares of the company’s stock after selling 1,005 shares during the period. O Brien Wealth Partners LLC’s holdings in Coca-Cola were worth $122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Coca-Cola during the 4th quarter valued at $2,808,056,000. Fisher Asset Management LLC boosted its position in shares of Coca-Cola by 11,138.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after purchasing an additional 4,933,527 shares during the period. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola in the fourth quarter worth $193,342,000. Putnam Investments LLC grew its holdings in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after buying an additional 2,973,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Coca-Cola by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after purchasing an additional 2,893,061 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Barclays upped their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group increased their price objective 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. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Morgan Stanley increased their price objective 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, JPMorgan Chase & Co. boosted 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $68.83.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 80,891 shares of the company’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 transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, 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. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.33 during trading on Monday, hitting $63.32. The stock had a trading volume of 5,802,430 shares, compared to its average volume of 13,067,188. 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 business has a fifty day moving average of $62.72 and a two-hundred day moving average of $60.78. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The firm has a market cap of $272.78 billion, a P/E ratio of 25.40, a PEG ratio of 3.60 and a beta of 0.59.

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

Coca-Cola Announces Dividend

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 paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

About Coca-Cola

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.