Contravisory Investment Management Inc. Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Contravisory Investment Management Inc. raised its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 29,595.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,830 shares of the company's stock after purchasing an additional 6,807 shares during the period. Contravisory Investment Management Inc.'s holdings in Coca-Cola were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of KO. Norges Bank bought a new stake in shares of Coca-Cola in the 4th quarter worth about $3,402,151,000. Capital International Investors raised its position in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its position in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Raymond James Financial Inc. bought a new stake in Coca-Cola in the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. boosted its position in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Down 0.7%

NYSE:KO traded down $0.48 during mid-day trading on Thursday, reaching $70.89. The company's stock had a trading volume of 12,462,407 shares, compared to its average volume of 15,791,566. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a fifty day moving average of $71.41 and a 200-day moving average of $67.45. The firm has a market capitalization of $305.11 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last posted 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. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola's dividend payout ratio is currently 81.60%.

Insider Buying and Selling at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. The trade was a 32.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the sale, the insider now directly owns 246,909 shares of the company's stock, valued at $17,533,008.09. The trade was a 18.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 496,164 shares of company stock valued at $35,671,587. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Royal Bank of Canada upped their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $75.81.

About Coca-Cola

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.