Blackhawk Capital Partners LLC. Decreases Stock Position in CocaCola Company (The) (NYSE:KO)

Blackhawk Capital Partners LLC. reduced its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 30.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,771 shares of the company's stock after selling 7,735 shares during the quarter. Blackhawk Capital Partners LLC.'s holdings in CocaCola were worth $1,273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the first quarter valued at about $25,000. Crowley Wealth Management Inc. purchased a new stake in CocaCola in the fourth quarter valued at about $27,000. Garde Capital Inc. purchased a new stake in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its stake in 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 buying an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Performance

CocaCola stock traded up $0.12 during midday trading on Friday, hitting $69.89. 12,910,766 shares of the company were exchanged, compared to its average volume of 16,309,945. The firm has a market capitalization of $300.83 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.66 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 business has a fifty day simple moving average of $70.90 and a two-hundred day simple moving average of $68.82. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

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

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's payout ratio is currently 81.60%.

Insider Buying and Selling at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm'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 value of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KO shares. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. UBS Group increased their price target on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of "Buy" and an average target price of $76.71.

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.