CocaCola Company (The) (NYSE:KO) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,027,898 shares of the company's stock after selling 491,371 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of CocaCola worth $1,792,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of CocaCola in the fourth quarter valued at approximately $3,402,151,000. Capital International Investors lifted its stake in shares of CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Franklin Resources Inc. boosted its stake in shares of CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. GAMMA Investing LLC grew its holdings in CocaCola by 8,419.4% in the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after purchasing an additional 5,891,034 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in CocaCola by 119.0% during the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock valued at $588,871,000 after acquiring an additional 5,139,352 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on KO shares. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target 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 research note on Thursday, March 27th. Finally, UBS Group upped their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two investment 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 data from MarketBeat.com, CocaCola presently has an average rating of "Buy" and an average price target of $76.27.

CocaCola Stock Up 0.4%

CocaCola stock traded up $0.28 during midday trading on Friday, hitting $71.19. The stock had a trading volume of 9,440,457 shares, compared to its average volume of 16,178,355. The business has a fifty day moving average price of $71.08 and a 200 day moving average price of $68.56. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a market cap of $306.42 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.74 and a beta of 0.45. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (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 business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The business's revenue was down .7% compared to the same quarter last year. Research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.87%. CocaCola's dividend payout ratio (DPR) is 81.60%.

Insider Buying and Selling

In other CocaCola news, 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 transaction of $4,335,629.62. Following the sale, the executive vice president owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company'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 sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.97% of the company's stock.

About CocaCola

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.