King Luther Capital Management Corp Has $279.84 Million Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• King Luther Capital Management Corp reduced its holdings in CocaCola by 1.3%, now owning approximately 3.9 million shares valued at $279.8 million, making it the firm's 18th largest position.
• The company recently reported a quarterly earnings per share of $0.87, exceeding analyst estimates of $0.83, with revenues of $12.50 billion.
• CocaCola's upcoming quarterly dividend of $0.51 per share is scheduled for payment on October 1st, with a dividend yield of 2.9%.

King Luther Capital Management Corp lowered its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,907,270 shares of the company's stock after selling 52,580 shares during the period. CocaCola comprises about 1.3% of King Luther Capital Management Corp's investment portfolio, making the stock its 18th biggest holding. King Luther Capital Management Corp owned about 0.09% of CocaCola worth $279,839,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KO. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. One equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $77.21.

Insiders Place Their Bets

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 value of $19,197,000.18. Following the completion of the sale, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the 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 completion of the sale, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

CocaCola Price Performance

CocaCola stock remained flat at $70.75 during mid-day trading on Tuesday. 11,060,613 shares of the company's stock traded hands, compared to its average volume of 14,526,525. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $304.48 billion, a PE ratio of 25.09, a P/E/G ratio of 3.68 and a beta of 0.44. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm's fifty day simple moving average is $70.09 and its two-hundred day simple moving average is $70.02.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly 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 analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola's dividend payout ratio is presently 72.34%.

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.