CocaCola Company (The) (NYSE:KO) Shares Sold by Concord Asset Management LLC VA

Concord Asset Management LLC VA reduced its position in shares of CocaCola Company (The) (NYSE:KO) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,207 shares of the company’s stock after selling 8,497 shares during the period. CocaCola accounts for about 0.9% of Concord Asset Management LLC VA’s holdings, making the stock its 24th biggest holding. Concord Asset Management LLC VA’s holdings in CocaCola were worth $4,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its position in CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock worth $1,439,000 after buying an additional 143 shares during the period. MBA Advisors LLC increased its position in CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock worth $891,000 after buying an additional 143 shares during the period. BXM Wealth LLC increased its position in shares of CocaCola by 4.3% in the first quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock worth $253,000 after purchasing an additional 144 shares during the period. MTM Investment Management LLC increased its position in shares of CocaCola by 0.3% in the first quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock worth $3,637,000 after purchasing an additional 144 shares during the period. Finally, Navis Wealth Advisors LLC increased its position in shares of CocaCola by 4.2% in the first quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company’s stock worth $257,000 after purchasing an additional 146 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. UBS Group raised their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank Of Canada lifted their target price on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.71.

Insider Buying and Selling

In other CocaCola news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. 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 CocaCola stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares of the company’s stock, 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 a total of 415,387 shares of company stock valued at $29,923,985 over the last ninety days. 0.97% of the stock is owned by company insiders.

CocaCola Stock Performance

Shares of KO stock opened at $69.49 on Tuesday. The business’s 50-day moving average price is $70.85 and its 200-day moving average price is $68.95. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $299.11 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.66 and a beta of 0.45. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for 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 firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

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.