Mill Capital Management LLC Lowers Stock Holdings in CocaCola Company (The) (NYSE:KO)

Mill Capital Management LLC lessened its position in CocaCola Company (The) (NYSE:KO - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,333 shares of the company's stock after selling 7,500 shares during the period. Mill Capital Management LLC's holdings in CocaCola were worth $2,602,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in CocaCola during the fourth quarter worth approximately $27,000. Garde Capital Inc. bought a new position in CocaCola in the first quarter valued at approximately $30,000. Mainstream Capital Management LLC acquired a new stake in CocaCola in the fourth quarter valued at about $31,000. Mizuho Securities Co. Ltd. boosted its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Finally, REAP Financial Group LLC increased 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 worth $35,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KO shares. Piper Sandler raised their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank Of Canada increased their target price on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $76.27.

Insider Buying and Selling at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the company's 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 in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company's stock.

CocaCola Stock Down 0.8%

NYSE:KO traded down $0.55 during mid-day trading on Wednesday, reaching $69.66. The company's stock had a trading volume of 12,535,509 shares, compared to its average volume of 16,001,735. The stock has a fifty day moving average of $71.42 and a 200-day moving average of $68.17. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $299.84 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

About CocaCola

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.