Jmac Enterprises LLC Sells 24,662 Shares of CocaCola Company (The) (NYSE:KO)

Jmac Enterprises LLC reduced its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the company's stock after selling 24,662 shares during the period. Jmac Enterprises LLC's holdings in CocaCola were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Norges Bank bought a new stake in shares of CocaCola during the fourth quarter worth about $3,402,151,000. Capital International Investors lifted its stake in shares of CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CocaCola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new position in shares of CocaCola in the fourth quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. lifted its stake in shares of CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the 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 completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. 0.90% of the stock is currently owned by company insiders.

CocaCola Trading Down 0.5%

NYSE KO opened at $68.84 on Monday. The firm has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a PEG ratio of 3.61 and a beta of 0.46. The business has a fifty day simple moving average of $71.50 and a 200 day simple moving average of $68.11. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates 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. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. CocaCola's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm 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 $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 2.96%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Piper Sandler boosted their price target on CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada boosted their price target on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Cfra Research raised CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two research 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $76.00.

CocaCola 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.

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