CocaCola Company (The) (NYSE:KO) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 8.9% during the first quarter, Holdings Channel.com reports. The firm owned 6,260 shares of the company’s stock after selling 610 shares during the period. FourThought Financial Partners LLC’s holdings in CocaCola were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Brighton Jones LLC raised its holdings in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,072 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of CocaCola by 9.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,172,065 shares of the company’s stock valued at $197,493,000 after buying an additional 269,491 shares during the last quarter. Finally, RiverFront Investment Group LLC grew its position in shares of CocaCola by 16.4% in the 4th quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company’s stock valued at $7,615,000 after buying an additional 17,263 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Trading Up 0.1%

Shares of CocaCola stock opened at $69.18 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.21. The company has a market capitalization of $297.75 billion, a P/E ratio of 24.53, a PEG ratio of 3.60 and a beta of 0.45. The company’s fifty day moving average is $70.64 and its two-hundred day moving average is $69.40.

CocaCola (NYSE:KO) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend 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%.

Insider Activity

In other news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated 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 sale, the chief financial officer owned 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated 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 directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. 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 quarter. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KO. UBS Group dropped their target price on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average 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.