New Covenant Trust Company N.A. Decreases Stock Position in CocaCola Company (The) (NYSE:KO)

New Covenant Trust Company N.A. lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,934 shares of the company’s stock after selling 233 shares during the quarter. New Covenant Trust Company N.A.’s holdings in CocaCola were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Balboa Wealth Partners boosted its holdings in shares of CocaCola by 4.3% in the 1st quarter. Balboa Wealth Partners now owns 7,024 shares of the company’s stock valued at $503,000 after acquiring an additional 287 shares during the last quarter. Berry Wealth Group LP acquired a new position in CocaCola in the first quarter valued at approximately $236,000. Retirement Guys Formula LLC boosted its position in CocaCola by 16.4% in the 1st quarter. Retirement Guys Formula LLC now owns 17,245 shares of the company’s stock worth $1,235,000 after purchasing an additional 2,429 shares in the last quarter. Climber Capital SA grew its stake in shares of CocaCola by 9.6% during the 1st quarter. Climber Capital SA now owns 4,400 shares of the company’s stock worth $315,000 after purchasing an additional 385 shares during the period. Finally, YHB Investment Advisors Inc. increased its holdings in shares of CocaCola by 4.5% during the 1st quarter. YHB Investment Advisors Inc. now owns 14,309 shares of the company’s stock valued at $1,025,000 after purchasing an additional 610 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KO shares. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler boosted their price objective on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $76.00.

CocaCola Stock Up 1.4%

Shares of NYSE KO opened at $69.77 on Tuesday. The company has a market capitalization of $300.31 billion, a P/E ratio of 27.91, a P/E/G ratio of 3.61 and a beta of 0.46. 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 company has a 50 day simple moving average of $71.45 and a 200-day simple moving average of $68.16. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO) last issued 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 analysts’ expectations 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 period in the previous year, the firm posted $0.72 earnings per share. On average, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business 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 of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.92%. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm’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 owns 275,946 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% 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 ninety days. Insiders own 0.90% of the company’s stock.

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.