Cadinha & Co. LLC Sells 7,509 Shares of The Coca-Cola Company (NYSE:KO)

Cadinha & Co. LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 69.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,348 shares of the company's stock after selling 7,509 shares during the period. Cadinha & Co. LLC's holdings in Coca-Cola were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KO. Norges Bank bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $3,402,151,000. Capital International Investors raised its holdings in Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Coca-Cola during the fourth quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. raised its holdings in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on KO. UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Evercore ISI boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has an average rating of "Buy" and a consensus price target of $75.81.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 229,761 shares of company stock worth $16,474,587 in the last ninety days. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Down 0.2%

NYSE:KO traded down $0.13 during trading hours on Monday, hitting $71.98. 10,196,133 shares of the stock traded hands, compared to its average volume of 15,726,208. The firm has a 50 day moving average price of $71.39 and a 200 day moving average price of $67.39. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market cap of $309.80 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business 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 company posted $0.72 EPS. Coca-Cola's revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared 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 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Coca-Cola 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.