Neville Rodie & Shaw Inc. Has $4 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Neville Rodie & Shaw Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,855 shares of the company's stock after selling 4,180 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in Coca-Cola were worth $4,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Voleon Capital Management LP bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $2,513,000. Rice Partnership LLC raised its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after purchasing an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock valued at $1,663,000 after purchasing an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. raised its holdings in shares of Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after purchasing an additional 30,650 shares during the period. Finally, abrdn plc raised its holdings in shares of Coca-Cola by 0.3% in the 4th quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after purchasing an additional 22,904 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.64 during midday trading on Friday, reaching $72.13. The company's stock had a trading volume of 28,013,099 shares, compared to its average volume of 15,764,664. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $310.47 billion, a P/E ratio of 29.20, a P/E/G ratio of 3.79 and a beta of 0.47. The business's 50 day moving average price is $71.35 and its two-hundred day moving average price is $67.26. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Coca-Cola's payout ratio is 81.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KO shares. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley upped their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $75.81.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the 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 sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 229,761 shares of company stock worth $16,474,587. 0.97% of the stock is currently owned by company insiders.

Coca-Cola 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.