Auto Owners Insurance Co cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 93.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,932 shares of the company's stock after selling 539,968 shares during the period. Auto Owners Insurance Co's holdings in CocaCola were worth $2,556,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. MorganRosel Wealth Management LLC acquired a new stake in CocaCola during the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new stake in CocaCola in the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. REAP Financial Group LLC raised its holdings in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares in the last quarter. Finally, Moser Wealth Advisors LLC raised its holdings in shares of CocaCola by 449.5% during the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after purchasing an additional 409 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO John Murphy sold 88,658 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by insiders.
CocaCola Price Performance
Shares of CocaCola stock opened at $69.67 on Wednesday. The firm has a market cap of $299.87 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 3.67 and a beta of 0.45. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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's fifty day simple moving average is $70.71 and its two-hundred day simple moving average is $69.17.
CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.
CocaCola Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CocaCola's dividend payout ratio is 81.60%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on KO. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. UBS Group lifted 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. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a report on Monday. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $77.13.
View Our Latest Analysis on CocaCola
CocaCola Company Profile
(
Free Report)
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.
Further Reading
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