Proficio Capital Partners LLC Has $571,000 Position in The Coca-Cola Company (NYSE:KO)

Proficio Capital Partners LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,328 shares of the company’s stock after acquiring an additional 535 shares during the period. Proficio Capital Partners LLC’s holdings in Coca-Cola were worth $571,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. ZRC Wealth Management LLC raised its position in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the 1st quarter valued at $28,000. Finally, Criterion Capital Advisors LLC bought a new stake in Coca-Cola in the 4th quarter valued at $30,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on KO. Barclays lifted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded down $0.28 during trading hours on Tuesday, reaching $62.68. The company had a trading volume of 11,657,557 shares, compared to its average volume of 13,002,218. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The firm has a market cap of $270.02 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business has a fifty day simple moving average of $62.97 and a 200 day simple moving average of $61.02.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.485 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold a total of 822,284 shares of company stock valued at $567,718,040 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

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.