The Coca-Cola Company (NYSE:KO) Position Trimmed by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lowered its stake in The Coca-Cola Company (NYSE:KO) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,041,333 shares of the company’s stock after selling 172,485 shares during the period. Coca-Cola makes up about 1.1% of Congress Wealth Management LLC DE’s investment portfolio, making the stock its 17th largest holding. Congress Wealth Management LLC DE’s holdings in Coca-Cola were worth $63,709,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its position in shares of Coca-Cola by 17.9% during the first quarter. Hexagon Capital Partners LLC now owns 14,884 shares of the company’s stock worth $911,000 after purchasing an additional 2,263 shares during the period. Consilio Wealth Advisors LLC acquired a new stake in Coca-Cola during the 1st quarter worth about $201,000. O ROURKE & COMPANY Inc lifted its stake in Coca-Cola by 0.9% during the first quarter. O ROURKE & COMPANY Inc now owns 18,543 shares of the company’s stock valued at $1,134,000 after buying an additional 173 shares in the last quarter. Claro Advisors LLC boosted its holdings in shares of Coca-Cola by 4.1% in the first quarter. Claro Advisors LLC now owns 23,885 shares of the company’s stock worth $1,461,000 after buying an additional 933 shares during the period. Finally, Kowal Investment Group LLC increased its position in shares of Coca-Cola by 27.1% in the first quarter. Kowal Investment Group LLC now owns 16,401 shares of the company’s stock worth $1,003,000 after acquiring an additional 3,501 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.6 %

NYSE KO traded down $0.37 during trading on Monday, reaching $63.28. The company’s stock had a trading volume of 10,016,643 shares, compared to its average volume of 13,101,016. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $272.61 billion, a PE ratio of 25.33, a PEG ratio of 3.60 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36. The business has a 50-day moving average price of $62.72 and a 200-day moving average price of $60.78.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the 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 transaction, the executive vice president now 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 at the SEC website. In other news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s 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 sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 223,665 shares of company stock valued at $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays upped their price target 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. Evercore ISI raised their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Argus raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.