CocaCola Company (The) (NYSE:KO) Shares Sold by Almanack Investment Partners LLC.

Almanack Investment Partners LLC. trimmed its position in CocaCola Company (The) (NYSE:KO) by 4.8% in the first quarter, HoldingsChannel.com reports. The firm owned 15,194 shares of the company’s stock after selling 772 shares during the quarter. Almanack Investment Partners LLC.’s holdings in CocaCola were worth $1,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. acquired a new stake in CocaCola in the first quarter worth approximately $216,000. Voleon Capital Management LP acquired a new stake in CocaCola in the fourth quarter worth approximately $2,513,000. Cornerstone Wealth Management LLC lifted its position in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock worth $8,686,000 after purchasing an additional 3,920 shares during the period. Clark Capital Management Group Inc. lifted its position in CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after purchasing an additional 204,681 shares during the period. Finally, StoneX Group Inc. lifted its position in CocaCola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock worth $3,224,000 after purchasing an additional 23,009 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s 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 completion of the transaction, the executive vice president now directly 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 a total of 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 company insiders.

CocaCola Price Performance

Shares of NYSE:KO opened at $70.42 on Friday. The company’s fifty day moving average is $71.25 and its two-hundred day moving average is $68.32. 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 company has a market cap of $303.11 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was down .7% on a year-over-year basis. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

Analyst Ratings Changes

A number of research firms have weighed in on KO. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. 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. Cfra Research raised CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average target price of $76.27.

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.