Moors & Cabot Inc. Sells 19,452 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Moors & Cabot Inc. has reduced its stake in CocaCola by 17.7%, owning 90,196 shares worth approximately $6.46 million after selling 19,452 shares in the first quarter.
• Analysts have a consensus rating of "Buy" for CocaCola, with a price target averaging $77.21, while several institutions have recently increased their stakes in the company.
• CocaCola announced a quarterly dividend of $0.51 per share, with an annualized yield of 3.0%, payable on October 1st to shareholders of record as of September 15th.

Moors & Cabot Inc. cut its position in CocaCola Company (The) (NYSE:KO - Free Report) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,196 shares of the company's stock after selling 19,452 shares during the period. Moors & Cabot Inc.'s holdings in CocaCola were worth $6,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. Capital International Investors increased its holdings in CocaCola 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 purchasing an additional 12,222,885 shares during the period. Invesco Ltd. increased its holdings in CocaCola by 18.2% during the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after purchasing an additional 3,791,300 shares during the period. Fayez Sarofim & Co increased its holdings in CocaCola by 6.7% during the 4th quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock worth $1,148,609,000 after purchasing an additional 1,155,538 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CocaCola by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,769,958 shares of the company's stock worth $1,106,336,000 after purchasing an additional 2,284,429 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

KO stock traded up $0.98 during mid-day trading on Friday, reaching $68.87. 16,100,345 shares of the stock traded hands, compared to its average volume of 15,716,578. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a 50-day moving average of $70.33 and a two-hundred day moving average of $69.64. The firm has a market capitalization of $296.39 billion, a PE ratio of 24.42, a P/E/G ratio of 3.58 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, UBS Group decreased their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $77.21.

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.