Cornerstone Wealth Management LLC Has $8.69 Million Stake in CocaCola Company (The) (NYSE:KO)

Cornerstone Wealth Management LLC grew its position in CocaCola Company (The) (NYSE:KO) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,279 shares of the company’s stock after acquiring an additional 3,920 shares during the period. Cornerstone Wealth Management LLC’s holdings in CocaCola were worth $8,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KO. Tallon Kerry Patrick acquired a new position in shares of CocaCola during the fourth quarter worth approximately $241,000. Brighton Jones LLC lifted its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in CocaCola in the 4th quarter valued at $24,472,000. Revolve Wealth Partners LLC boosted its position in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after buying an additional 2,072 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Down 1.3%

Shares of NYSE KO opened at $69.61 on Wednesday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The stock has a market cap of $299.61 billion, a P/E ratio of 27.84, a P/E/G ratio of 3.70 and a beta of 0.46. The firm has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.95.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. CocaCola’s payout ratio is 81.60%.

Analyst Ratings Changes

KO has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. UBS Group lifted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $76.00.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated Friday, May 30th. The stock was 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 in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

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.