CocaCola Company (The) (NYSE:KO) Stock Holdings Lessened by Bessemer Group Inc.

Bessemer Group Inc. lowered its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,638,629 shares of the company's stock after selling 146,082 shares during the quarter. Bessemer Group Inc.'s holdings in CocaCola were worth $117,359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Navis Wealth Advisors LLC increased its stake in shares of CocaCola by 4.2% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock worth $257,000 after purchasing an additional 146 shares in the last quarter. Peachtree Investment Partners LLC boosted its stake in shares of CocaCola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after purchasing an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. boosted its position in CocaCola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after acquiring an additional 159 shares during the last quarter. Fort Sheridan Advisors LLC raised its holdings in CocaCola 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 last quarter. Finally, Excalibur Management Corp lifted its stake in shares of CocaCola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were 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 owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last three months. 0.90% of the stock is owned by insiders.

CocaCola Stock Down 0.8%

NYSE KO traded down $0.55 on Wednesday, reaching $69.66. The company had a trading volume of 12,536,081 shares, compared to its average volume of 16,001,739. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a 50-day moving average of $71.42 and a 200-day moving average of $68.17. The firm has a market capitalization of $299.84 billion, a PE ratio of 27.86, a P/E/G ratio of 3.66 and a beta of 0.46.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business's revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. On average, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KO. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Piper Sandler raised their target price on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. UBS Group upped their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $76.27.

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.