CocaCola Company (The) (NYSE:KO) Stock Position Cut by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 44.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,798 shares of the company's stock after selling 98,983 shares during the period. Daymark Wealth Partners LLC's holdings in CocaCola were worth $9,001,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts have commented on KO shares. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Finally, Piper Sandler increased their target price on CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.27.

CocaCola Trading Down 0.8%

KO traded down $0.55 during trading on Wednesday, hitting $69.66. The company's stock had a trading volume of 12,536,081 shares, compared to its average volume of 16,001,737. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $299.84 billion, a PE ratio of 27.86, a PEG ratio of 3.66 and a beta of 0.46. The firm's 50 day moving average price is $71.42 and its 200-day moving average price is $68.17. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last released its 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 firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred 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 now directly owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on 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 owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.90% of the company's stock.

CocaCola 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.