CocaCola Company (The) (NYSE:KO) Shares Sold by GenTrust LLC

GenTrust LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,659 shares of the company’s stock after selling 152 shares during the period. GenTrust LLC’s holdings in CocaCola were worth $264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Crowley Wealth Management Inc. bought a new position in CocaCola during the fourth quarter worth $27,000. Garde Capital Inc. acquired a new stake in CocaCola during the first quarter worth about $30,000. Mainstream Capital Management LLC acquired a new position in CocaCola in the fourth quarter valued at approximately $31,000. Mizuho Securities Co. Ltd. increased its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares during the period. Finally, REAP Financial Group LLC grew its position in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Down 0.8%

NYSE:KO opened at $69.66 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock’s fifty day simple moving average is $71.38 and its 200-day simple moving average is $68.18. The firm has a market capitalization of $299.84 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.68 and a beta of 0.46.

CocaCola (NYSE:KO) last released its quarterly earnings results 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. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced 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. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, June 13th. CocaCola’s payout ratio is 81.60%.

Analyst Ratings Changes

Several research analysts have recently issued reports on KO shares. UBS Group increased their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Piper Sandler lifted their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada boosted their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $76.27.

Insiders Place Their Bets

In other news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction 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 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 that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was 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 three months. 0.97% of the stock is currently owned by corporate insiders.

About CocaCola

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.