Keybank National Association OH Sells 17,017 Shares of CocaCola Company (The) (NYSE:KO)

Keybank National Association OH cut its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,135,710 shares of the company's stock after selling 17,017 shares during the quarter. Keybank National Association OH's holdings in CocaCola were worth $81,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new position in CocaCola during the 1st quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new position in CocaCola during the fourth quarter worth about $27,000. Garde Capital Inc. bought a new stake in CocaCola in the 1st quarter worth about $30,000. Mainstream Capital Management LLC purchased a new stake in CocaCola in the 4th quarter valued at about $31,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Up 0.5%

CocaCola stock traded up $0.33 during mid-day trading on Thursday, hitting $71.24. The company had a trading volume of 4,943,268 shares, compared to its average volume of 16,116,390. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock's 50 day moving average price is $71.12 and its two-hundred day moving average price is $68.44. The company has a market capitalization of $306.61 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business's revenue was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, CocaCola has an average rating of "Buy" and an average price target of $76.27.

About CocaCola

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.