Chevy Chase Trust Holdings LLC Sells 6,448 Shares of CocaCola Company (The) (NYSE:KO)

Chevy Chase Trust Holdings LLC reduced its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,134,233 shares of the company's stock after selling 6,448 shares during the period. Chevy Chase Trust Holdings LLC's holdings in CocaCola were worth $152,854,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Voleon Capital Management LP purchased a new stake in shares of CocaCola in the 4th quarter worth about $2,513,000. Cornerstone Wealth Management LLC lifted its holdings in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares during the period. Clark Capital Management Group Inc. lifted its holdings in CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after buying an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd boosted its position in CocaCola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after acquiring an additional 783,161 shares in the last quarter. Finally, StoneX Group Inc. grew its holdings in shares of CocaCola by 80.0% during 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 during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. JPMorgan Chase & Co. raised their target price on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler boosted their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two equities 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $76.27.

CocaCola Stock Down 0.8%

Shares of CocaCola stock traded down $0.55 on Wednesday, reaching $69.66. The company's stock had a trading volume of 12,536,081 shares, compared to its average volume of 16,001,740. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm's fifty day simple moving average is $71.42 and its two-hundred day simple moving average is $68.17. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $299.84 billion, a price-to-earnings 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 data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating 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 company had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the firm posted $0.72 earnings per share. CocaCola's revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola 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 paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CocaCola's dividend payout ratio is presently 81.60%.

Insider Activity

In other 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 value 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. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The stock was 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 now directly owns 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. Insiders own 0.90% of the company's stock.

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.