Flynn Zito Capital Management LLC Reduces Position in CocaCola Company (The) (NYSE:KO)

Flynn Zito Capital Management LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 30.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,845 shares of the company's stock after selling 4,407 shares during the quarter. Flynn Zito Capital Management LLC's holdings in CocaCola were worth $705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. Deseret Mutual Benefit Administrators raised its position in CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after acquiring an additional 143 shares during the period. MBA Advisors LLC increased its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after acquiring an additional 143 shares during the last quarter. BXM Wealth LLC increased its holdings in CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after acquiring an additional 144 shares during the last quarter. MTM Investment Management LLC grew its holdings in CocaCola by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company's stock valued at $3,637,000 after buying an additional 144 shares in the last quarter. Finally, Navis Wealth Advisors LLC grew its holdings in CocaCola by 4.2% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock valued at $257,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

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 note on Tuesday, April 15th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. UBS Group dropped their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and a consensus target price of $77.07.

Insider Buying and Selling

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

CocaCola Trading Down 0.2%

Shares of KO stock traded down $0.12 on Thursday, hitting $69.04. The stock had a trading volume of 7,585,267 shares, compared to its average volume of 17,367,967. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.89. The firm has a market capitalization of $297.16 billion, a P/E ratio of 24.50, a P/E/G ratio of 3.65 and a beta of 0.45. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company's 50 day moving average price is $70.74 and its 200-day moving average price is $69.23.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the business earned $0.84 EPS. CocaCola's revenue was up 2.5% on a year-over-year basis. Analysts anticipate 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 Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. CocaCola's dividend payout ratio is presently 72.34%.

About CocaCola

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.