The Coca-Cola Company (NYSE:KO) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,839 shares of the company’s stock after selling 1,228 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Coca-Cola were worth $848,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Voleon Capital Management LP acquired a new stake in shares of Coca-Cola during the fourth quarter worth $2,513,000. Newbridge Financial Services Group Inc. lifted its holdings in Coca-Cola by 62.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock valued at $1,663,000 after acquiring an additional 10,240 shares during the period. Clark Capital Management Group Inc. lifted its holdings in Coca-Cola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after acquiring an additional 204,681 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Coca-Cola by 2.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 196,874 shares of the company’s stock valued at $12,257,000 after acquiring an additional 4,637 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in Coca-Cola by 8.1% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after acquiring an additional 783,161 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO opened at $71.37 on Friday. The company has a market cap of $307.20 billion, a P/E ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46. The stock has a fifty day moving average price of $71.39 and a 200 day moving average price of $67.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,664 shares of company stock worth $31,730,532. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on KO. UBS Group raised their target price on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $75.81.

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.