CocaCola Company (The) (NYSE:KO) Holdings Lowered by Kennedy Investment Group

Kennedy Investment Group trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,113 shares of the company’s stock after selling 198 shares during the quarter. Kennedy Investment Group’s holdings in CocaCola were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in CocaCola in the fourth quarter worth about $241,000. Brighton Jones LLC raised its holdings in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of CocaCola in the 4th quarter worth approximately $24,472,000. Revolve Wealth Partners LLC raised its holdings in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in shares of CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after buying an additional 2,072 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of KO opened at $68.84 on Friday. The company has a market capitalization of $296.32 billion, a price-to-earnings ratio of 27.54, a P/E/G 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 current ratio of 1.10 and a quick ratio of 0.89. The business’s 50-day moving average is $71.50 and its 200-day moving average is $68.07.

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 the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. CocaCola’s dividend payout ratio is 81.60%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. JPMorgan Chase & Co. upped their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $76.00.

Insider Buying and Selling

In other news, CEO James Quincey sold 266,403 shares of the 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 transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

CocaCola 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.