Cornerstone Wealth Group LLC Buys 12,501 Shares of The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Group LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 124.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,542 shares of the company’s stock after acquiring an additional 12,501 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Coca-Cola were worth $1,379,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in KO. ZRC Wealth Management LLC boosted its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new stake in Coca-Cola during the 4th quarter valued at approximately $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the 4th quarter valued at approximately $27,000. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at approximately $31,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. UBS Group 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 1st. Finally, Morgan Stanley raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $68.83.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction 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 completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock valued at $13,995,465 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.4 %

Shares of KO opened at $63.65 on Monday. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. 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 50 day simple moving average of $62.72 and a 200-day simple moving average of $60.78. The stock has a market cap of $274.20 billion, a PE ratio of 25.46, a PEG ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the firm posted $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.82 EPS 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. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s payout ratio is presently 77.60%.

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.