Mirae Asset Global Investments Co. Ltd. Lowers Position in CocaCola Company (The) (NYSE:KO)

Mirae Asset Global Investments Co. Ltd. cut its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,775,419 shares of the company's stock after selling 14,553 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CocaCola were worth $124,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new stake in shares of CocaCola in the 4th quarter valued at about $27,000. Garde Capital Inc. bought a new stake in CocaCola during the 1st quarter worth approximately $30,000. Mainstream Capital Management LLC purchased a new position in shares of CocaCola in the 4th quarter worth approximately $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 worth $33,000 after buying an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC boosted its stake in shares of CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after buying an additional 208 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

Shares of CocaCola stock traded up $0.95 during trading on Friday, hitting $70.42. The stock had a trading volume of 23,464,409 shares, compared to its average volume of 16,098,647. The firm has a market cap of $303.11 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 3.69 and a beta of 0.46. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The business's 50-day moving average is $71.25 and its 200 day moving average is $68.32. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, sell-side analysts anticipate 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 Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. CocaCola's dividend payout ratio is presently 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada boosted their target price on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.27.

Insider Activity at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at $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. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is owned by insiders.

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.