Concord Asset Management LLC VA Reduces Holdings in CocaCola Company (The) (NYSE:KO)

Concord Asset Management LLC VA decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,207 shares of the company's stock after selling 8,497 shares during the quarter. CocaCola makes up 0.9% of Concord Asset Management LLC VA's holdings, making the stock its 24th largest holding. Concord Asset Management LLC VA's holdings in CocaCola were worth $4,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the 1st quarter worth $25,000. Garde Capital Inc. bought a new position in shares of CocaCola during the 1st quarter worth $30,000. Crowley Wealth Management Inc. bought a new position in shares of CocaCola during the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. grew its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares in the last quarter. Finally, Moser Wealth Advisors LLC grew its position in shares of CocaCola by 449.5% during the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KO shares. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada lifted their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group lifted their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CocaCola currently has a consensus rating of "Buy" and an average target price of $76.71.

Insider Activity at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business's 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 completion of the sale, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 205,511 shares of the company's stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Down 0.8%

NYSE KO traded down $0.56 during trading on Friday, hitting $70.04. The company's stock had a trading volume of 10,043,818 shares, compared to its average volume of 16,371,469. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market cap of $301.45 billion, a PE ratio of 28.02, a P/E/G ratio of 3.63 and a beta of 0.45. The business's 50 day simple moving average is $70.73 and its 200-day simple moving average is $69.01.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared 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. This represents a $2.04 annualized dividend and a yield of 2.91%. CocaCola's dividend payout ratio is currently 81.60%.

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.