AIA Group Ltd trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 51.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,100 shares of the company's stock after selling 11,916 shares during the period. AIA Group Ltd's holdings in CocaCola were worth $795,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the 1st quarter worth $25,000. Garde Capital Inc. bought a new stake in CocaCola during the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. grew its position 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 purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the period. Finally, REAP Financial Group LLC lifted its position in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
CocaCola Price Performance
KO stock traded down $0.89 during trading on Thursday, hitting $69.57. The company had a trading volume of 10,708,941 shares, compared to its average volume of 14,306,699. The company has a fifty day moving average price of $70.05 and a two-hundred day moving average price of $70.06. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market cap of $299.40 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.67 and a beta of 0.44. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.
CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company 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 firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. Equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.
CocaCola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's payout ratio is presently 72.34%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on KO. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. One research 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's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $77.21.
Read Our Latest Stock Report on CocaCola
Insider Buying and Selling at CocaCola
In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the business's 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 completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.
About CocaCola
(
Free Report)
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.
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