China Universal Asset Management Co. Ltd. Has $1.92 Million Position in CocaCola Company (The) (NYSE:KO)

China Universal Asset Management Co. Ltd. trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 29.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,585 shares of the company's stock after selling 11,149 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in CocaCola were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Sage Financial Management Group Inc. bought a new position in CocaCola in the first quarter worth $216,000. Voleon Capital Management LP bought a new position in shares of CocaCola during the fourth quarter valued at $2,513,000. Cornerstone Wealth Management LLC lifted its holdings in shares of CocaCola by 3.3% during the first 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 during the period. Clark Capital Management Group Inc. lifted its holdings in shares of CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after acquiring an additional 204,681 shares during the period. Finally, StoneX Group Inc. lifted its holdings in shares of CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after acquiring an additional 23,009 shares during the period. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Barclays reissued an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Royal Bank Of Canada lifted 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. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, UBS Group raised their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $76.71.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated 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 owned 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. Company insiders own 0.97% of the company's stock.

CocaCola Trading Up 0.2%

CocaCola stock traded up $0.12 during trading hours on Friday, reaching $69.89. 12,910,766 shares of the company's stock traded hands, compared to its average volume of 16,309,945. 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 Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $300.83 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 3.66 and a beta of 0.45. The firm's 50 day moving average is $70.90 and its 200-day moving average is $68.82.

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

CocaCola Dividend Announcement

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

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.