Davidson Trust Co. Sells 3,663 Shares of CocaCola Company (The) (NYSE:KO)

Davidson Trust Co. decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,983 shares of the company's stock after selling 3,663 shares during the quarter. Davidson Trust Co.'s holdings in CocaCola were worth $1,431,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares in the last quarter. Souders Financial Advisors raised its position in shares of CocaCola by 8.8% in the 4th quarter. Souders Financial Advisors now owns 6,083 shares of the company's stock worth $379,000 after acquiring an additional 494 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of CocaCola by 40.2% in the 4th quarter. Assetmark Inc. now owns 152,901 shares of the company's stock worth $9,520,000 after acquiring an additional 43,836 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KO. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, CocaCola has a consensus rating of "Buy" and a consensus target price of $76.27.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 over the last 90 days. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

CocaCola stock traded up $0.28 during trading on Friday, hitting $71.19. The stock had a trading volume of 9,440,457 shares, compared to its average volume of 16,178,355. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock's 50 day moving average is $71.08 and its two-hundred day moving average is $68.60. The stock has a market cap of $306.42 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45.

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

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. CocaCola's dividend payout ratio is currently 81.60%.

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.