The Coca-Cola Company (NYSE:KO) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,536 shares of the company's stock after selling 3,875 shares during the quarter. Coca-Cola makes up about 1.3% of Griffin Asset Management Inc.'s investment portfolio, making the stock its 20th biggest position. Griffin Asset Management Inc.'s holdings in Coca-Cola were worth $10,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Voleon Capital Management LP purchased a new stake in Coca-Cola during the fourth quarter valued at $2,513,000. Clark Capital Management Group Inc. raised its stake in Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its stake in Coca-Cola by 8.1% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after purchasing an additional 783,161 shares in the last quarter. StoneX Group Inc. raised its stake in Coca-Cola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Finally, Fortress Financial Group LLC purchased a new stake in Coca-Cola during the fourth quarter valued at $416,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola 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 now directly owns 275,946 shares in the company, 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. In the last quarter, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $1.30 during trading on Friday, hitting $70.94. 17,424,785 shares of the stock traded hands, compared to its average volume of 15,884,646. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market cap of $305.36 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The company has a fifty day moving average price of $71.56 and a two-hundred day moving average price of $67.87. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during 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 firm earned $0.72 EPS. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is presently 81.60%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of Coca-Cola in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Royal Bank of Canada increased their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two investment 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 company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.00.

Coca-Cola 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.