CocaCola Company (The) (NYSE:KO) is Fayez Sarofim & Co's 5th Largest Position

Key Points

• Fayez Sarofim & Co reduced its stake in Coca-Cola by 4.4%, holding 17,606,024 shares worth approximately $1.26 billion, making it the firm's fifth largest holding.
• CEO James Quincey sold 266,403 shares, observing a 49.12% decrease in personal holdings valued at about $19.9 million.
• Wall Street analysts maintain a positive outlook on Coca-Cola, with a majority rating the stock as a buy and an average target price of $77.21.

Fayez Sarofim & Co decreased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,606,024 shares of the company's stock after selling 802,186 shares during the period. CocaCola accounts for approximately 3.2% of Fayez Sarofim & Co's investment portfolio, making the stock its 5th largest position. Fayez Sarofim & Co owned 0.41% of CocaCola worth $1,263,823,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New Republic Capital LLC lifted its position in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after purchasing an additional 139 shares during the last quarter. Alteri Wealth LLC lifted its position in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after purchasing an additional 140 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after purchasing an additional 143 shares during the last quarter. MBA Advisors LLC lifted its position in shares of CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after purchasing an additional 143 shares during the last quarter. Finally, BXM Wealth LLC lifted its position in shares of CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

CocaCola Stock Performance

NYSE KO traded down $0.11 during trading on Friday, reaching $70.32. The company's stock had a trading volume of 9,229,863 shares, compared to its average volume of 14,864,419. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The firm has a market cap of $302.63 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 3.67 and a beta of 0.44. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The business's fifty day moving average price is $70.13 and its 200-day moving average price is $69.83.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period in the previous year, the business posted $0.84 earnings per share. CocaCola's quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is 72.34%.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $77.21.

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.