PSI Advisors LLC Reduces Stock Holdings in CocaCola Company (The) (NYSE:KO)

PSI Advisors LLC lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 51.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 612 shares of the company’s stock after selling 661 shares during the quarter. PSI Advisors LLC’s holdings in CocaCola were worth $44,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in CocaCola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of CocaCola in the fourth quarter valued at approximately $31,000. REAP Financial Group LLC grew its position in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of CocaCola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. raised its position in CocaCola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Cfra Research raised CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, Piper Sandler lifted their target price on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $76.00.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.7%

NYSE:KO opened at $69.15 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year 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 fifty day moving average price of $71.59 and a two-hundred day moving average price of $67.96. The stock has a market capitalization of $297.63 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.65 and a beta of 0.46.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued 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 2.95%. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

CocaCola 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.