Bridges Investment Management Inc. Lowers Stock Position in CocaCola Company (The) (NYSE:KO)

Bridges Investment Management Inc. decreased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,201 shares of the company's stock after selling 3,698 shares during the period. Bridges Investment Management Inc.'s holdings in CocaCola were worth $3,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Sage Financial Management Group Inc. purchased a new stake in shares of CocaCola in the 1st quarter worth about $216,000. Voleon Capital Management LP purchased a new stake in CocaCola in the fourth quarter worth about $2,513,000. Cornerstone Wealth Management LLC boosted its position in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after acquiring an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of 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 acquiring an additional 204,681 shares during the period. Finally, StoneX Group Inc. raised its position in shares of CocaCola by 80.0% in the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after acquiring an additional 23,009 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

NYSE:KO traded up $0.15 on Thursday, reaching $69.63. 8,462,001 shares of the company's stock traded hands, compared to its average volume of 16,264,560. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a 50-day simple moving average of $70.96 and a 200-day simple moving average of $68.72. The firm has a market cap of $299.72 billion, a PE ratio of 27.81, a P/E/G ratio of 3.68 and a beta of 0.45.

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

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KO shares. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $76.27.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by insiders.

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.