Phoenix Financial Ltd. Sells 567 Shares of CocaCola Company (The) (NYSE:KO)

Phoenix Financial Ltd. cut its position in CocaCola Company (The) (NYSE:KO) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,265 shares of the company’s stock after selling 567 shares during the quarter. Phoenix Financial Ltd.’s holdings in CocaCola were worth $2,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. increased its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. REAP Financial Group LLC increased its stake in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the period. Finally, Moser Wealth Advisors LLC increased its stake in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $36,000 after buying an additional 409 shares during the period. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

CocaCola Price Performance

CocaCola stock opened at $69.18 on Friday. The stock has a market capitalization of $297.75 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.59 and a beta of 0.45. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock’s 50 day moving average price is $70.64 and its two-hundred day moving average price is $69.34. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.21.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. On average, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s payout ratio is 72.34%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. UBS Group lowered their price objective on CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $77.21.

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.