Mutual of America Capital Management LLC Cuts Position in CocaCola Company (The) (NYSE:KO)

Mutual of America Capital Management LLC cut its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 449,600 shares of the company's stock after selling 14,197 shares during the period. CocaCola comprises approximately 0.4% of Mutual of America Capital Management LLC's holdings, making the stock its 26th largest position. Mutual of America Capital Management LLC's holdings in CocaCola were worth $32,200,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the 1st quarter valued at $25,000. Crowley Wealth Management Inc. bought a new stake in shares of CocaCola during the 4th quarter valued at $27,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the 1st quarter valued at $30,000. 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 valued at $33,000 after acquiring an additional 360 shares during the period. Finally, REAP Financial Group LLC grew its position 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 acquiring an additional 208 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company'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 of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company's 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 directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock valued at $29,923,985. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $76.71.

CocaCola Stock Performance

KO traded up $0.33 on Thursday, reaching $69.60. The stock had a trading volume of 5,486,087 shares, compared to its average volume of 16,321,586. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The business's 50-day moving average price is $70.74 and its two-hundred day moving average price is $68.96. The company has a market cap of $299.56 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 3.64 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm 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 for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.93%. CocaCola's dividend payout ratio is presently 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.