CocaCola Company (The) (NYSE:KO) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lessened its stake in CocaCola Company (The) (NYSE:KO) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,737 shares of the company’s stock after selling 386 shares during the period. Larson Financial Group LLC’s holdings in CocaCola were worth $2,631,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in CocaCola in the 4th quarter valued at approximately $3,402,151,000. Northern Trust Corp boosted its position in CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. boosted its position in CocaCola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. Capital International Investors boosted its position in CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after buying an additional 12,222,885 shares during the period. Finally, Invesco Ltd. boosted its position in CocaCola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock valued at $1,529,537,000 after buying an additional 3,791,300 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of KO opened at $69.33 on Wednesday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market cap of $298.43 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.64 and a beta of 0.45. 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 firm has a fifty day moving average price of $70.80 and a 200 day moving average price of $68.95.

CocaCola (NYSE:KO) last announced its quarterly earnings results 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 firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. CocaCola’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. UBS Group lifted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $76.71.

Insider Buying and Selling at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of CocaCola 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by company insiders.

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.