Bridges Investment Management Inc. Sells 3,698 Shares of CocaCola Company (The) (NYSE:KO)

Bridges Investment Management Inc. lessened its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,201 shares of the company's stock after selling 3,698 shares during the quarter. Bridges Investment Management Inc.'s holdings in CocaCola were worth $3,667,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter worth $30,000. Crowley Wealth Management Inc. bought a new position in shares of CocaCola during the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. lifted its position in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Moser Wealth Advisors LLC increased its stake in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after purchasing an additional 409 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Down 1.0%

NYSE:KO traded down $0.71 during trading hours on Wednesday, hitting $69.53. The stock had a trading volume of 33,690,781 shares, compared to its average volume of 16,297,249. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The company has a market cap of $299.28 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 3.68 and a beta of 0.45. The business's 50 day moving average is $71.02 and its 200-day moving average is $68.71. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

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, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. Sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on KO shares. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. upped their target price on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Royal Bank Of Canada upped their target price on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Barclays restated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $76.27.

Insider Activity at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last ninety days. 0.97% of the stock is owned by company insiders.

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.