CocaCola Company (The) (NYSE:KO) Stock Holdings Decreased by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,362,063 shares of the company's stock after selling 9,002 shares during the quarter. CocaCola makes up 6.9% of Cullinan Associates Inc.'s holdings, making the stock its 2nd largest holding. Cullinan Associates Inc.'s holdings in CocaCola were worth $97,551,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KO. Crowley Wealth Management Inc. purchased a new position in shares of CocaCola during the 4th quarter valued at $27,000. Garde Capital Inc. purchased a new stake in CocaCola in the 1st quarter worth $30,000. Mainstream Capital Management LLC purchased a new stake in CocaCola in the 4th quarter worth $31,000. Mizuho Securities Co. Ltd. lifted its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of NYSE:KO opened at $68.84 on Friday. The company has a market capitalization of $296.32 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.61 and a beta of 0.46. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm's 50-day moving average is $71.50 and its 200 day moving average is $68.07. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. Research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.96%. CocaCola's payout ratio is 81.60%.

Analyst Ratings Changes

Several analysts have commented on KO shares. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler upped their target price on shares of CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, CocaCola presently has a consensus rating of "Buy" and an average price target of $76.00.

Insider Activity at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company's stock.

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.

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