Norden Group LLC Sells 4,133 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Norden Group LLC reduced its stake in Coca-Cola by 7.8%, selling 4,133 shares and reducing its total holdings to 48,999 shares worth approximately $3.51 million.
• Multiple institutional investors increased their holdings in Coca-Cola, with Arrowstreet Capital growing its stake by 22.8%, now holding 1.45 million shares valued at $90.39 million.
• Coca-Cola recently declared a quarterly dividend of $0.51 per share, which is set to be paid on October 1st, representing an annual yield of 2.95%.

Norden Group LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,999 shares of the company's stock after selling 4,133 shares during the quarter. Norden Group LLC's holdings in CocaCola were worth $3,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its position in shares of CocaCola by 16.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 15,703 shares of the company's stock worth $978,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in CocaCola by 22.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,451,883 shares of the company's stock worth $90,394,000 after buying an additional 269,414 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on KO. UBS Group decreased their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $77.21.

Insider Buying and Selling at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business'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 transaction, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm's 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 sale, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is owned by company insiders.

CocaCola Trading Up 0.1%

Shares of CocaCola stock opened at $69.18 on Monday. The stock has a market cap of $297.75 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.60 and a beta of 0.45. The firm has a fifty day moving average price of $70.64 and a 200 day moving average price of $69.45. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

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.

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