Compagnie Lombard Odier SCmA Sells 66,377 Shares of The Coca-Cola Company (NYSE:KO)

Compagnie Lombard Odier SCmA lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454,878 shares of the company’s stock after selling 66,377 shares during the quarter. Coca-Cola comprises 1.3% of Compagnie Lombard Odier SCmA’s holdings, making the stock its 20th largest holding. Compagnie Lombard Odier SCmA’s holdings in Coca-Cola were worth $104,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peachtree Investment Partners LLC boosted its position in shares of Coca-Cola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after buying an additional 157 shares during the period. Braun Bostich & Associates Inc. lifted its position in Coca-Cola by 3.8% during the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after acquiring an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC boosted its holdings in Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after acquiring an additional 161 shares during the period. Excalibur Management Corp lifted its position in shares of Coca-Cola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after purchasing an additional 161 shares in the last quarter. Finally, Tradition Wealth Management LLC boosted its stake in shares of Coca-Cola by 3.0% in the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.4%

Shares of NYSE KO opened at $72.03 on Thursday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market cap of $310.02 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock’s 50 day simple moving average is $71.42 and its 200 day simple moving average is $67.74.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola’s payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KO shares. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, DZ Bank raised shares of 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and a consensus target price of $76.00.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.