Invesco Ltd. Lowers Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• Invesco Ltd. has reduced its holdings in CocaCola Company (NYSE: KO) by 7.1%, selling 1,736,435 shares during the first quarter, now owning approximately 0.53% of the company.
• CocaCola announced a quarterly dividend of $0.51 per share, which will be paid on October 1st, with an annualized yield of 2.9%.
• The company's recent earnings report showed a profit of $0.87 per share, surpassing expectations, and a revenue of $12.50 billion for the quarter, a 2.5% increase from the previous year.

Invesco Ltd. lowered its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,830,498 shares of the company's stock after selling 1,736,435 shares during the quarter. Invesco Ltd. owned about 0.53% of CocaCola worth $1,635,120,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in CocaCola in the 1st quarter valued at about $25,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its position in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC lifted its position in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE KO traded down $0.29 on Tuesday, hitting $70.46. 164,384 shares of the stock traded hands, compared to its average volume of 16,943,721. The business's fifty day moving average is $70.10 and its two-hundred day moving average is $70.01. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market capitalization of $303.23 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.66 and a beta of 0.44. 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 (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business 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. 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 presently 72.34%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of the business's 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 directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group dropped their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised 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. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price 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.