Pacer Advisors Inc. Cuts Stock Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• Pacer Advisors Inc. reduced its stake in Coca-Cola by 36.8%, holding 223,101 shares valued at approximately $15.98 million after selling 130,144 shares in the first quarter.
• Coca-Cola CEO James Quincey sold over 266,000 shares, representing a 49.12% decrease in his ownership of the stock, while CFO John Murphy also sold 88,658 shares, reflecting a 30.14% decrease in his position.
• The company announced a $0.51 quarterly dividend to be paid on October 1st, with a current dividend yield of 2.95% and a payout ratio of 72.34%.

Pacer Advisors Inc. lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 36.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,101 shares of the company's stock after selling 130,144 shares during the period. Pacer Advisors Inc.'s holdings in CocaCola were worth $15,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the period. REAP Financial Group LLC boosted its holdings in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after buying an additional 208 shares during the period. Finally, Moser Wealth Advisors LLC boosted its holdings in CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KO. UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $77.21.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, 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 quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is currently owned by company insiders.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.31 during midday trading on Wednesday, reaching $69.08. 2,417,681 shares of the company were exchanged, compared to its average volume of 17,232,287. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The business's fifty day moving average is $70.52 and its two-hundred day moving average is $69.50. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market cap of $297.32 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 3.54 and a beta of 0.45.

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

CocaCola Dividend Announcement

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

CocaCola 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.