Mackenzie Financial Corp Cuts Stake in The Coca-Cola Company (NYSE:KO)

Mackenzie Financial Corp lessened its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 28.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,877,410 shares of the company's stock after selling 1,167,174 shares during the quarter. Mackenzie Financial Corp owned 0.07% of Coca-Cola worth $179,148,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Hoey Investments Inc. increased its position in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after buying an additional 181 shares in the last quarter. Finally, MilWealth Group LLC acquired a new position in Coca-Cola during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Barclays restated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $75.81.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola 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 approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $24,324,191.46. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,407 shares of company stock valued at $32,990,056. 0.90% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

NYSE KO opened at $71.81 on Friday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $309.09 billion, a PE ratio of 29.07, a P/E/G ratio of 3.79 and a beta of 0.47. The firm has a 50-day moving average of $71.09 and a 200-day moving average of $66.98. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

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

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.

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