Naples Global Advisors LLC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Naples Global Advisors LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,174 shares of the company’s stock after selling 877 shares during the quarter. Naples Global Advisors LLC’s holdings in Coca-Cola were worth $1,887,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. HF Advisory Group LLC grew its holdings in Coca-Cola by 9.0% during the first quarter. HF Advisory Group LLC now owns 9,090 shares of the company’s stock worth $651,000 after acquiring an additional 747 shares during the period. Warren Street Wealth Advisors LLC grew its holdings in Coca-Cola by 13.9% during the first quarter. Warren Street Wealth Advisors LLC now owns 5,518 shares of the company’s stock worth $395,000 after acquiring an additional 674 shares during the period. Lifestyle Asset Management Inc. acquired a new stake in Coca-Cola during the first quarter worth about $230,000. Clare Market Investments LLC grew its holdings in Coca-Cola by 1.5% during the first quarter. Clare Market Investments LLC now owns 28,713 shares of the company’s stock worth $2,056,000 after acquiring an additional 425 shares during the period. Finally, Johnson & White Wealth Management LLC grew its holdings in Coca-Cola by 2.1% during the first quarter. Johnson & White Wealth Management LLC now owns 14,290 shares of the company’s stock worth $1,023,000 after acquiring an additional 293 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,664 shares of company stock valued at $31,730,532 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $70.89 on Friday. The stock’s fifty day moving average is $71.40 and its two-hundred day moving average is $67.51. The firm has a market capitalization of $305.11 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley raised their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Buy” and an average price target of $75.81.

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.