The Coca-Cola Company (NYSE:KO) Shares Sold by Avanza Fonder AB

Avanza Fonder AB decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 358,374 shares of the company's stock after selling 46,260 shares during the quarter. Coca-Cola makes up 0.8% of Avanza Fonder AB's holdings, making the stock its 17th largest position. Avanza Fonder AB's holdings in Coca-Cola were worth $25,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peachtree Investment Partners LLC grew its stake in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after buying an additional 157 shares during the period. Fort Sheridan Advisors LLC raised its stake in shares of Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock valued at $311,000 after acquiring an additional 161 shares during the period. Excalibur Management Corp lifted its holdings in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock valued at $1,831,000 after acquiring an additional 161 shares in the last quarter. Tradition Wealth Management LLC boosted its position in Coca-Cola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after purchasing an additional 167 shares during the period. Finally, Aviance Capital Partners LLC increased its holdings in Coca-Cola by 0.7% in the 4th quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company's stock valued at $1,493,000 after purchasing an additional 171 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Barclays reissued an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Coca-Cola has a consensus rating of "Buy" and an average target price of $76.00.

Insider Buying and Selling

In related news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on 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 now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Down 0.6%

NYSE KO traded down $0.47 on Wednesday, hitting $71.89. 3,828,444 shares of the stock traded hands, compared to its average volume of 15,745,994. The company has a market capitalization of $309.41 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The stock has a 50-day moving average of $71.38 and a 200 day moving average of $67.72. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The business's revenue was down .7% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Coca-Cola 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.