Conning Inc. Sells 23,404 Shares of CocaCola Company (The) $KO

Key Points

• Conning Inc. reduced its Coca-Cola stake by 4.7% in the first quarter, selling 23,404 shares and leaving it with 479,695 shares valued at about $36.5 million.
• Insiders have been selling shares: Chairman James Quincey sold 436,296 shares and EVP Nancy Quan sold 31,625 shares, with the company saying the trades were tied to tax withholding from vested equity awards.
• Wall Street remains bullish on KO, with 15 analysts rating it a Buy and a consensus target price of $88.06; the stock has also been supported by strong quarterly earnings and a 2.5% dividend yield.

Conning Inc. trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,695 shares of the company's stock after selling 23,404 shares during the period. CocaCola comprises about 1.2% of Conning Inc.'s holdings, making the stock its 22nd largest position. Conning Inc.'s holdings in CocaCola were worth $36,481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Anfield Capital Management LLC lifted its position in CocaCola by 438.8% in the 4th quarter. Anfield Capital Management LLC now owns 361 shares of the company's stock valued at $25,000 after acquiring an additional 294 shares in the last quarter. Louisbourg Investments Inc. purchased a new stake in shares of CocaCola in the first quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of CocaCola in the second quarter worth approximately $26,000. Evolution Wealth Management Inc. lifted its holdings in shares of CocaCola by 1,081.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 390 shares of the company's stock valued at $27,000 after purchasing an additional 357 shares in the last quarter. Finally, Daytona Street Capital LLC bought a new position in shares of CocaCola in the fourth quarter valued at approximately $29,000. 70.26% of the stock is owned by institutional investors.

Insider Transactions at CocaCola

In other news, Chairman James Quincey sold 436,296 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $80.13, for a total transaction of $34,960,398.48. Following the completion of the transaction, the chairman owned 122,833 shares in the company, valued at approximately $9,842,608.29. This represents a 78.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 31,625 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $80.93, for a total transaction of $2,559,411.25. Following the sale, the executive vice president directly owned 223,330 shares in the company, valued at approximately $18,074,096.90. This trade represents a 12.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 899,905 shares of company stock worth $71,832,315 in the last quarter. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on CocaCola from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, March 30th. Wells Fargo & Company raised their price objective on CocaCola from $87.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Sanford C. Bernstein set a $83.00 target price on shares of CocaCola in a research note on Thursday. Barclays increased their target price on shares of CocaCola from $85.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised shares of CocaCola from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.06.

CocaCola Stock Performance

Shares of CocaCola stock opened at $83.49 on Friday. The business's fifty day simple moving average is $80.79 and its 200 day simple moving average is $77.17. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. CocaCola Company has a 12 month low of $65.35 and a 12 month high of $85.68. The firm has a market capitalization of $359.23 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 3.30 and a beta of 0.34.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $12.24 billion. CocaCola had a return on equity of 40.55% and a net margin of 27.80%.The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. As a group, analysts anticipate that CocaCola Company will post 3.26 EPS for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. CocaCola's dividend payout ratio is currently 66.67%.

Key Headlines Impacting CocaCola

Here are the key news stories impacting CocaCola this week:

• Positive Sentiment: Analysts at Jefferies and Bank of America expect solid second-quarter results, citing resilient demand, steady volume trends, and stronger organic sales growth; Jefferies also sees a modest earnings beat. Coca-Cola expected to post solid second-quarter results as analysts highlight resilient demand
• Positive Sentiment: Bank of America raised its price target on KO to $95 and reiterated a buy rating, while JPMorgan lifted its target to $90 and maintained an overweight view, signaling confidence in further upside. Benzinga report on Bank of America target raise Tickerreport report on JPMorgan target raise
• Positive Sentiment: Marriott announced a global beverage partnership making Coca-Cola its primary beverage provider across guestrooms, restaurants, lounges, and events, which could expand KO’s distribution in hospitality and boost long-term brand reach. Marriott International (MAR), Coca-Cola Company (KO) Announce Global Beverage Partnership
• Neutral Sentiment: Recent articles also highlighted Coca-Cola’s stock having already run up near the top of its 52-week range and discussed whether the shares are becoming expensive after the rally, which may temper enthusiasm but does not change the core business outlook. Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note Is Coca-Cola NYSE: KO Too Rich After Its Run?
• Negative Sentiment: One recent trading update noted KO fell in the prior session despite broader market strength, suggesting some short-term profit-taking after its strong move. Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note

CocaCola Profile

The Coca‑Cola Company NYSE: KO is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

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