CocaCola Company (The) (NYSE:KO) Stake Reduced by Commerce Bank

Key Points

• Commerce Bank reduced its holdings in CocaCola Company (NYSE:KO) by 0.8%, now owning 482,384 shares worth approximately $34.55 million.
• Several hedge funds have significantly increased their stakes in CocaCola, with Capital International Investors boosting holdings by 96.0%, acquiring nearly 12.2 million shares.
• CocaCola recently declared a quarterly dividend of $0.51 per share, representing an annualized dividend of $2.04 and a yield of 3.0%.

Commerce Bank trimmed its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 482,384 shares of the company's stock after selling 3,770 shares during the quarter. Commerce Bank's holdings in CocaCola were worth $34,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KO. MONECO Advisors LLC grew its position in shares of CocaCola by 4.3% during the first quarter. MONECO Advisors LLC now owns 18,452 shares of the company's stock worth $1,322,000 after buying an additional 760 shares in the last quarter. Certified Advisory Corp lifted its stake in CocaCola by 4.0% in the first quarter. Certified Advisory Corp now owns 34,528 shares of the company's stock valued at $2,473,000 after buying an additional 1,338 shares during the last quarter. Howland Capital Management LLC raised its stake in shares of CocaCola by 1.0% during the first quarter. Howland Capital Management LLC now owns 71,406 shares of the company's stock worth $5,151,000 after purchasing an additional 727 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in CocaCola by 2.8% in the first quarter. Nicolet Advisory Services LLC now owns 92,098 shares of the company's stock valued at $6,517,000 after acquiring an additional 2,538 shares during the period. Finally, Wealthquest Corp increased its position in shares of CocaCola by 4.7% in the first quarter. Wealthquest Corp now owns 6,045 shares of the company's stock valued at $433,000 after buying an additional 272 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% 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 valued at $29,923,985. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Performance

Shares of NYSE KO traded up $0.09 during trading on Monday, reaching $68.95. The stock had a trading volume of 10,691,012 shares, compared to its average volume of 16,521,952. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market cap of $296.74 billion, a PE ratio of 24.45, a P/E/G ratio of 3.58 and a beta of 0.44. The firm's 50 day moving average price is $70.33 and its two-hundred day moving average price is $69.69.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $12.55 billion. During the same period last year, the business posted $0.84 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's payout ratio is 72.34%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group reduced their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, CocaCola presently has a consensus rating of "Buy" and a consensus price target of $77.21.

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.