CocaCola Company (The) (NYSE:KO) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC lessened its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 56.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,116 shares of the company's stock after selling 13,115 shares during the period. KG&L Capital Management LLC's holdings in CocaCola were worth $725,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KO. Navis Wealth Advisors LLC boosted 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 acquiring an additional 146 shares during the period. Peachtree Investment Partners LLC lifted its holdings in shares of CocaCola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after buying an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. boosted its position in shares of CocaCola by 3.8% in the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock valued at $309,000 after acquiring an additional 159 shares during the period. Fort Sheridan Advisors LLC grew its stake in shares of CocaCola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after acquiring an additional 161 shares during the last quarter. Finally, Excalibur Management Corp increased its holdings in shares of CocaCola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler lifted their target price on shares of CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $76.27.

CocaCola Stock Down 0.8%

NYSE KO opened at $69.66 on Thursday. The stock has a market capitalization of $299.84 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 3.68 and a beta of 0.46. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The stock has a fifty day moving average of $71.38 and a 200-day moving average of $68.18.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is 81.60%.

Insider Activity at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the company's 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 completion of the sale, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 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. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Company insiders own 0.97% of the company's stock.

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.

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