CocaCola Company (The) (NYSE:KO) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in CocaCola by 26.7%, selling 85,633 shares during the first quarter, and now holds 234,516 shares valued at approximately $16.8 million.
• CocaCola announced a quarterly dividend of $0.51 per share, with an annualized yield of 2.9%, payable on October 1st to shareholders of record on September 15th.
• CocaCola's recent earnings report indicated an EPS of $0.87, exceeding analysts' expectations, while the company had a revenue of $12.50 billion, slightly below projected figures.

Gulf International Bank UK Ltd trimmed its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 26.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,516 shares of the company's stock after selling 85,633 shares during the period. CocaCola makes up about 0.6% of Gulf International Bank UK Ltd's holdings, making the stock its 24th biggest holding. Gulf International Bank UK Ltd's holdings in CocaCola were worth $16,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sage Financial Management Group Inc. acquired a new stake in shares of CocaCola in the first quarter valued at about $216,000. Voleon Capital Management LP acquired a new stake in shares of CocaCola in the fourth quarter valued at about $2,513,000. Cornerstone Wealth Management LLC grew its stake in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after buying an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in shares of CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after buying an additional 204,681 shares in the last quarter. Finally, Investors Research Corp grew its stake in shares of CocaCola by 21.5% in the first quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after buying an additional 1,846 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KO. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group decreased their price objective 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $77.21.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the 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 sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Down 1.3%

Shares of KO stock traded down $0.89 during trading hours on Thursday, hitting $69.57. 10,708,941 shares of the company were exchanged, compared to its average volume of 14,306,699. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The business's 50-day simple moving average is $70.05 and its two-hundred day simple moving average is $70.06. The stock has a market capitalization of $299.40 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 3.67 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the company posted $0.84 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed 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 is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's dividend payout ratio is 72.34%.

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.