The Coca-Cola Company (NYSE:KO) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lowered its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 15.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,463 shares of the company's stock after selling 12,234 shares during the quarter. Jacobs & Co. CA's holdings in Coca-Cola were worth $4,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. REAP Financial Group LLC increased its holdings in shares of Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. increased its holdings in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Trading Up 0.9%

Shares of KO traded up $0.64 during midday trading on Friday, hitting $72.13. 28,013,099 shares of the stock were exchanged, compared to its average volume of 15,748,391. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a fifty day simple moving average of $71.35 and a 200 day simple moving average of $67.29. The firm has a market cap of $310.47 billion, a P/E ratio of 29.20, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last released 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the business posted $0.72 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm'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 in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 229,761 shares of company stock worth $16,474,587. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on KO. UBS Group increased 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. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. 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 research report on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $75.81.

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.