Oppenheimer Asset Management Inc. Sells 32,984 Shares of CocaCola Company (The) (NYSE:KO)

Oppenheimer Asset Management Inc. reduced its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 35.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,159 shares of the company's stock after selling 32,984 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in CocaCola were worth $4,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in CocaCola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Norges Bank acquired a new stake in shares of CocaCola in the fourth quarter worth $3,402,151,000. Northern Trust Corp raised its stake 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 acquiring an additional 3,811,756 shares during the period. Franklin Resources Inc. lifted its holdings in shares of CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors boosted its position 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. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE KO traded up $0.66 during mid-day trading on Friday, reaching $70.13. The company had a trading volume of 3,289,445 shares, compared to its average volume of 15,995,237. The company has a 50-day moving average price of $71.31 and a two-hundred day moving average price of $68.23. 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 stock has a market cap of $301.87 billion, a PE ratio of 28.06, a P/E/G ratio of 3.65 and a beta of 0.46. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. CocaCola's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at $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 worth $29,923,985. Corporate insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group raised their price objective on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Piper Sandler increased their target price on CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Two investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $76.27.

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.