CocaCola Company (The) (NYSE:KO) Stake Lowered by Aegis Wealth Management LLC

Key Points

• Aegis Wealth Management LLC has reduced its stake in CocaCola Company (NYSE:KO) by 42.5%, selling 3,810 shares and now holding 5,150 shares valued at approximately $369,000.
• CocaCola's recent quarterly earnings report showed an EPS of $0.87, beating estimates, while revenue reached $12.50 billion, up 2.5% year-over-year.
• The company declared a quarterly dividend of $0.51 per share, with a total annualized dividend yield of 2.94%, to be paid on October 1st.

Aegis Wealth Management LLC reduced its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 42.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,150 shares of the company's stock after selling 3,810 shares during the quarter. Aegis Wealth Management LLC's holdings in CocaCola were worth $369,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. increased its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its stake in CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after purchasing an additional 409 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on KO shares. 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 dropped 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, July 23rd. Cfra Research raised CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $77.21.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were 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 directly owned 187,716 shares of the company's stock, 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. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.97% of the stock is owned by insiders.

CocaCola Stock Up 0.9%

Shares of NYSE:KO traded up $0.59 during trading on Friday, hitting $68.48. The company's stock had a trading volume of 2,970,357 shares, compared to its average volume of 17,184,957. The company has a market capitalization of $294.70 billion, a PE ratio of 24.26, a PEG ratio of 3.58 and a beta of 0.45. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock's 50-day moving average price is $70.39 and its two-hundred day moving average price is $69.54.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. CocaCola's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

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.