OVERSEA CHINESE BANKING Corp Ltd Sells 130,831 Shares of CocaCola Company (The) (NYSE:KO)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in CocaCola Company (The) (NYSE:KO - Free Report) by 46.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,168 shares of the company's stock after selling 130,831 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in CocaCola were worth $10,600,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of KO. Apollon Financial LLC bought a new position in shares of CocaCola during the 1st quarter worth approximately $213,000. Transcendent Capital Group LLC grew its stake in shares of CocaCola by 20.7% during the 1st quarter. Transcendent Capital Group LLC now owns 2,820 shares of the company's stock worth $202,000 after acquiring an additional 484 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in shares of CocaCola by 4.3% during the 1st quarter. Catalyst Financial Partners LLC now owns 22,560 shares of the company's stock worth $1,616,000 after acquiring an additional 934 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of CocaCola during the 1st quarter worth approximately $628,000. Finally, Turtle Creek Wealth Advisors LLC grew its stake in shares of CocaCola by 391.9% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 57,770 shares of the company's stock worth $4,137,000 after acquiring an additional 46,026 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. 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. 0.97% of the stock is owned by company insiders.

CocaCola Stock Performance

Shares of CocaCola stock traded down $0.09 during trading on Wednesday, reaching $69.27. The company's stock had a trading volume of 13,165,599 shares, compared to its average volume of 16,363,400. The business's 50-day moving average price is $70.74 and its 200-day moving average price is $68.96. The firm has a market cap of $298.14 billion, a PE ratio of 27.71, a P/E/G ratio of 3.64 and a beta of 0.45. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

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

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.51 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. CocaCola's payout ratio is presently 81.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KO shares. UBS Group raised their target price on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Royal Bank Of Canada raised their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CocaCola currently has a consensus rating of "Buy" and a consensus target price of $76.71.

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.