CocaCola Company (The) (NYSE:KO) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,357,414 shares of the company's stock after selling 73,393 shares during the quarter. M&T Bank Corp's holdings in CocaCola were worth $97,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the first quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new position in CocaCola in the fourth quarter valued at approximately $27,000. Garde Capital Inc. acquired a new position in CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% in the first 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 boosted its holdings in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of CocaCola stock traded up $0.12 during trading hours on Friday, hitting $69.89. 12,910,766 shares of the company were exchanged, compared to its average volume of 16,309,945. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average of $70.90 and a 200-day moving average of $68.82. The stock has a market capitalization of $300.83 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 3.66 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations 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 prior year, the business earned $0.72 earnings per share. As a group, analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, June 13th. CocaCola's payout ratio is 81.60%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price target on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Two analysts have 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.com, CocaCola currently has an average rating of "Buy" and an average target price of $76.71.

Insiders Place Their Bets

In other CocaCola news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction 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. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

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.