Mediolanum International Funds Ltd Sells 182,919 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Coca-Cola by 26.0%, now owning 519,665 shares valued at approximately $36.57 million.
• Several institutional investors have increased their stakes in Coca-Cola, with Capital International Investors raising its position by 96.0% to nearly 25 million shares.
• Coca-Cola's upcoming quarterly dividend of $0.51 per share reflects an annualized payout of $2.04 and a dividend yield of 2.95%.

Mediolanum International Funds Ltd lowered its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,665 shares of the company's stock after selling 182,919 shares during the period. Mediolanum International Funds Ltd's holdings in CocaCola were worth $36,569,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new position in CocaCola during the 1st quarter valued at $25,000. Garde Capital Inc. bought a new position in CocaCola during the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. boosted its stake in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. REAP Financial Group LLC boosted its stake in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. Finally, Moser Wealth Advisors LLC lifted its position in shares of CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer owned 205,511 shares of the company's stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. 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. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KO. 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 set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $77.21.

CocaCola Price Performance

Shares of KO stock traded up $1.18 during midday trading on Tuesday, reaching $69.27. 5,556,443 shares of the company were exchanged, compared to its average volume of 17,259,352. The company's 50 day moving average price is $70.56 and its two-hundred day moving average price is $69.50. The company has a market cap of $298.17 billion, a P/E ratio of 24.54, a PEG ratio of 3.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 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.