CocaCola Company (The) (NYSE:KO) Shares Sold by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has reduced its holdings in Coca-Cola by 19.7%, selling 5,005 shares and now holds a total of 20,405 shares valued at approximately $1.46 million.
• Coca-Cola's CEO, James Quincey, sold 266,403 shares for about $19.2 million, which represented a 49.12% decrease in his ownership position.
• The company recently declared a $0.51 quarterly dividend to be paid on October 1st, reflecting an annualized dividend of $2.04 and a yield of 2.95%.

Navellier & Associates Inc. decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 19.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,405 shares of the company's stock after selling 5,005 shares during the period. Navellier & Associates Inc.'s holdings in CocaCola were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KO. Brighton Jones LLC raised its holdings in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after acquiring an additional 2,072 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of CocaCola during the 4th quarter worth approximately $38,000. Finally, Financial Engines Advisors L.L.C. increased its holdings in shares of CocaCola by 88.6% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 10,320 shares of the company's stock worth $643,000 after buying an additional 4,847 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $77.21.

Insider Buying and Selling at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The stock was 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 of the company's stock, valued at approximately $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. Insiders sold 415,387 shares of company stock valued at $29,923,985 in the last 90 days. Company insiders own 0.97% of the company's stock.

CocaCola Stock Up 0.1%

CocaCola stock opened at $69.18 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.21. 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 capitalization of $297.75 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.45. The firm has a 50 day moving average price of $70.64 and a 200 day moving average price of $69.34.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the company posted $0.84 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. Research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.95%. CocaCola's dividend payout ratio is presently 72.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.