CocaCola Company (The) (NYSE:KO) Position Lowered by Synergy Asset Management LLC

Synergy Asset Management LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 27.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,909 shares of the company's stock after selling 139,951 shares during the period. CocaCola makes up 3.3% of Synergy Asset Management LLC's portfolio, making the stock its 8th biggest position. Synergy Asset Management LLC's holdings in CocaCola were worth $26,565,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Peachtree Investment Partners LLC boosted its holdings in shares of CocaCola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock valued at $697,000 after acquiring an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. boosted its holdings in CocaCola by 3.8% in the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after purchasing an additional 159 shares during the last quarter. Fort Sheridan Advisors LLC boosted its holdings in CocaCola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after purchasing an additional 161 shares during the last quarter. Excalibur Management Corp boosted its holdings in CocaCola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its stake in shares of CocaCola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after buying an additional 167 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE:KO opened at $68.84 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.61 and a beta of 0.46. The firm's 50 day simple moving average is $71.50 and its two-hundred day simple moving average is $68.07.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share 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 analysts' expectations of $11.23 billion. During the same quarter in the previous year, the company earned $0.72 EPS. CocaCola's revenue for the quarter was down .7% on a year-over-year basis. Research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. CocaCola's payout ratio is 81.60%.

Analyst Ratings Changes

KO has been the topic of a number of research reports. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Piper Sandler raised their target price on CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $76.00.

Insider Activity

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 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 document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Corporate insiders own 0.97% of the company's stock.

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.

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