CocaCola Company (The) (NYSE:KO) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 42.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,366 shares of the company's stock after selling 13,403 shares during the quarter. Leo Wealth LLC's holdings in CocaCola were worth $1,315,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KO. Sage Financial Management Group Inc. acquired a new stake in CocaCola during the 1st quarter worth about $216,000. Voleon Capital Management LP purchased a new position in shares of CocaCola in the 4th quarter valued at about $2,513,000. Cornerstone Wealth Management LLC increased its stake in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after buying an additional 204,681 shares in the last quarter. Finally, StoneX Group Inc. increased its stake in CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after buying an additional 23,009 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE:KO traded down $0.14 during mid-day trading on Tuesday, reaching $69.33. The stock had a trading volume of 12,635,030 shares, compared to its average volume of 16,346,800. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The firm has a market capitalization of $298.43 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.64 and a beta of 0.45. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The business has a 50 day simple moving average of $70.80 and a 200 day simple moving average of $68.95.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the firm earned $0.72 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.51 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.94%. CocaCola's payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased 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. UBS Group increased their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $76.71.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.90% of the company's stock.

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.