The Coca-Cola Company (NYSE:KO) Holdings Cut by Diligent Investors LLC

Diligent Investors LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,965 shares of the company's stock after selling 6,981 shares during the period. Diligent Investors LLC's holdings in Coca-Cola were worth $1,645,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at $31,000. REAP Financial Group LLC raised its holdings in Coca-Cola 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 acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. raised its holdings in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.6%

Shares of NYSE:KO traded up $0.46 during midday trading on Friday, hitting $71.37. 9,519,460 shares of the company's stock traded hands, compared to its average volume of 15,820,235. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $307.20 billion, a PE ratio of 28.89, a P/E/G ratio of 3.79 and a beta of 0.46. The firm's fifty day moving average price is $71.39 and its two-hundred day moving average price is $67.63. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KO shares. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of "Buy" and an average price target of $75.81.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company's 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 completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock valued at $31,730,532 over the last ninety days. Insiders own 0.97% of the company's stock.

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.