Allen Operations LLC Trims Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• Allen Operations LLC reduced its stake in Coca-Cola Company by 39.9%, now holding 99,054 shares valued at approximately $7.09 million.
• CEO James Quincey sold 266,403 shares valued at over $19 million, resulting in a 49.12% decrease in his position.
• Recent earnings showed Coca-Cola reporting $0.87 EPS, which exceeded analyst expectations, with the company also announcing a quarterly dividend of $0.51 per share.

Allen Operations LLC decreased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 39.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,054 shares of the company's stock after selling 65,854 shares during the quarter. CocaCola comprises about 1.2% of Allen Operations LLC's investment portfolio, making the stock its 18th biggest holding. Allen Operations LLC's holdings in CocaCola were worth $7,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Deseret Mutual Benefit Administrators grew its holdings in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after acquiring an additional 143 shares during the period. MBA Advisors LLC grew its holdings in shares of CocaCola by 1.2% in the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after acquiring an additional 143 shares during the period. BXM Wealth LLC grew its holdings in shares of CocaCola by 4.3% in the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after acquiring an additional 144 shares during the period. MTM Investment Management LLC grew its holdings in CocaCola by 0.3% during the first quarter. MTM Investment Management LLC now owns 50,612 shares of the company's stock valued at $3,637,000 after purchasing an additional 144 shares during the period. Finally, Navis Wealth Advisors LLC grew its holdings in CocaCola by 4.2% during the first quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock valued at $257,000 after purchasing an additional 146 shares during the period. Institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

Shares of NYSE:KO traded up $1.21 during mid-day trading on Tuesday, reaching $69.30. The stock had a trading volume of 5,991,208 shares, compared to its average volume of 17,261,814. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a market cap of $298.30 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 3.60 and a beta of 0.45. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The business's 50 day moving average price is $70.56 and its 200 day moving average price is $69.50.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is 72.34%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 205,511 shares in the company, valued at approximately $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. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $77.21.

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.