ANTIPODES PARTNERS Ltd Sells 269,084 Shares of CocaCola Company (The) (NYSE:KO)

ANTIPODES PARTNERS Ltd reduced its position in CocaCola Company (The) (NYSE:KO - Free Report) by 62.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,467 shares of the company's stock after selling 269,084 shares during the period. ANTIPODES PARTNERS Ltd's holdings in CocaCola were worth $11,637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP bought a new position in CocaCola during the 4th quarter worth $2,513,000. Cornerstone Wealth Management LLC grew its stake in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after buying an additional 204,681 shares during the last quarter. Finally, StoneX Group Inc. grew its stake in CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after buying an additional 23,009 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on KO shares. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $77.21.

CocaCola Trading Up 0.1%

Shares of NYSE KO traded up $0.08 during mid-day trading on Friday, hitting $69.18. 12,568,414 shares of the company traded hands, compared to its average volume of 16,367,130. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. 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. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business has a 50 day moving average of $70.64 and a two-hundred day moving average of $69.34.

CocaCola (NYSE:KO - Get Free Report) last announced 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. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the business posted $0.84 earnings per share. CocaCola's revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business 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 dividend of $0.51 per share. 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 dividend payout ratio is 72.34%.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

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.