The Coca-Cola Company (NYSE:KO) Holdings Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,585,413 shares of the company's stock after selling 46,715 shares during the period. Handelsbanken Fonder AB's holdings in Coca-Cola were worth $113,547,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Voleon Capital Management LP bought a new stake in Coca-Cola during the fourth quarter valued at $2,513,000. Clark Capital Management Group Inc. boosted its position in Coca-Cola by 31.8% during the 4th 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 during the period. Alphinity Investment Management Pty Ltd grew its stake in Coca-Cola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock worth $652,767,000 after buying an additional 783,161 shares during the last quarter. StoneX Group Inc. increased its position in Coca-Cola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after buying an additional 23,009 shares during the period. Finally, Fortress Financial Group LLC bought a new stake in Coca-Cola in the fourth quarter valued at $416,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO stock traded up $0.17 on Thursday, hitting $72.24. 12,693,653 shares of the company's stock traded hands, compared to its average volume of 15,797,281. The stock has a market cap of $310.94 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a fifty day moving average of $71.42 and a 200-day moving average of $67.74.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on KO shares. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. UBS Group lifted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $76.00.

Coca-Cola 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.