Sendero Wealth Management LLC Boosts Position in The Coca-Cola Company (NYSE:KO)

Sendero Wealth Management LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,557 shares of the company’s stock after purchasing an additional 1,031 shares during the quarter. Sendero Wealth Management LLC’s holdings in Coca-Cola were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. ZRC Wealth Management LLC lifted its stake in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the last quarter. Tidemark LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The shares were 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 owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,665 shares of company stock valued at $13,995,465. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Argus boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. BNP Paribas started coverage on Coca-Cola in a report on Monday. They issued an “outperform” rating and a $72.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola Price Performance

KO stock traded down $0.26 on Friday, reaching $63.65. 17,357,860 shares of the company’s stock were exchanged, compared to its average volume of 13,125,760. The stock has a fifty day moving average of $62.72 and a 200-day moving average of $60.77. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The firm has a market cap of $274.20 billion, a PE ratio of 25.46, a P/E/G ratio of 3.62 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

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.