Livforsakringsbolaget Skandia Omsesidigt Cuts Stake in The Coca-Cola Company (NYSE:KO)

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,717 shares of the company's stock after selling 16,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Coca-Cola were worth $7,285,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction on 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 sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was 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 now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of KO stock traded down $0.47 on Wednesday, reaching $71.88. The company had a trading volume of 3,828,444 shares, compared to its average volume of 15,745,994. The business's 50-day moving average is $71.38 and its 200 day moving average is $67.72. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $309.41 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. UBS Group lifted their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two investment 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. According to MarketBeat, Coca-Cola currently has an average rating of "Buy" and an average target price of $76.00.

Coca-Cola 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.