D.A. Davidson & CO. Has $22.49 Million Stock Position in CocaCola Company (The) (NYSE:KO)

D.A. Davidson & CO. lessened its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 313,951 shares of the company's stock after selling 14,365 shares during the quarter. D.A. Davidson & CO.'s holdings in CocaCola were worth $22,485,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Sage Financial Management Group Inc. acquired a new stake in CocaCola during the first quarter worth about $216,000. Voleon Capital Management LP acquired a new stake in CocaCola during the fourth quarter worth about $2,513,000. Cornerstone Wealth Management LLC raised its stake in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after acquiring an additional 3,920 shares during the period. Clark Capital Management Group Inc. raised its stake in CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after acquiring an additional 204,681 shares during the period. Finally, StoneX Group Inc. raised its stake in CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after acquiring an additional 23,009 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Barclays reiterated an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Royal Bank Of Canada increased their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $76.27.

CocaCola Trading Up 0.4%

CocaCola stock traded up $0.28 during midday trading on Friday, reaching $71.19. The stock had a trading volume of 9,440,457 shares, compared to its average volume of 16,178,355. The firm's fifty day simple moving average is $71.08 and its two-hundred day simple moving average is $68.56. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The firm has a market cap of $306.42 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.74 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company's revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Insider Activity

In other news, 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 transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by insiders.

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.