CX Institutional Sells 84,821 Shares of The Coca-Cola Company (NYSE:KO)

CX Institutional lessened its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,493 shares of the company's stock after selling 84,821 shares during the quarter. CX Institutional's holdings in Coca-Cola were worth $2,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in Coca-Cola by 497.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock valued at $321,548,000 after acquiring an additional 3,737,646 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Coca-Cola by 87.6% during the 1st quarter. Integrated Advisors Network LLC now owns 97,771 shares of the company's stock valued at $7,003,000 after buying an additional 45,663 shares during the last quarter. Gibson Capital LLC lifted its holdings in shares of Coca-Cola by 5.8% during the 1st quarter. Gibson Capital LLC now owns 6,880 shares of the company's stock valued at $493,000 after buying an additional 378 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Coca-Cola by 6.1% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 73,713 shares of the company's stock valued at $5,279,000 after buying an additional 4,225 shares during the last quarter. Finally, Curated Wealth Partners LLC acquired a new stake in shares of Coca-Cola during the 1st quarter valued at about $221,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the 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 completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada increased their price target on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Barclays reissued an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and an average price target of $76.00.

Coca-Cola Trading Down 1.8%

Shares of KO traded down $1.30 during trading hours on Friday, hitting $70.94. 17,424,785 shares of the stock traded hands, compared to its average volume of 15,884,646. The company has a current ratio of 1.03, a quick ratio of 0.84 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 firm has a market capitalization of $305.36 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The business has a fifty day moving average of $71.56 and a 200-day moving average of $67.87.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

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.