CocaCola Company (The) (NYSE:KO) Holdings Cut by Synergy Asset Management LLC

Synergy Asset Management LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 27.4% during the first quarter, HoldingsChannel reports. The fund owned 370,909 shares of the company’s stock after selling 139,951 shares during the quarter. CocaCola comprises about 3.3% of Synergy Asset Management LLC’s holdings, making the stock its 8th largest position. Synergy Asset Management LLC’s holdings in CocaCola were worth $26,565,000 as of its most recent SEC filing.

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

Insider Transactions at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Performance

NYSE KO opened at $68.84 on Friday. The stock has a 50-day simple moving average of $71.50 and a two-hundred day simple moving average of $68.07. The firm has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a PEG ratio of 3.61 and a beta of 0.46. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid 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 dividend yield of 2.96%. CocaCola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group raised their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada raised their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, CocaCola has an average rating of “Buy” and a consensus price target of $76.00.

CocaCola 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.