Penserra Capital Management LLC Buys 6,141 Shares of CocaCola Company (The) (NYSE:KO)

Penserra Capital Management LLC grew its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 60.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,335 shares of the company's stock after buying an additional 6,141 shares during the period. Penserra Capital Management LLC's holdings in CocaCola were worth $1,169,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Crew Capital Management Ltd. lifted its holdings in CocaCola by 4.4% during the 1st quarter. Crew Capital Management Ltd. now owns 6,563 shares of the company's stock worth $470,000 after purchasing an additional 279 shares during the last quarter. Traveka Wealth LLC lifted its holdings in CocaCola by 2.1% during the 1st quarter. Traveka Wealth LLC now owns 58,276 shares of the company's stock worth $4,174,000 after purchasing an additional 1,171 shares during the last quarter. Rice Partnership LLC lifted its holdings in CocaCola by 4.0% during the 1st quarter. Rice Partnership LLC now owns 106,861 shares of the company's stock worth $7,653,000 after purchasing an additional 4,115 shares during the last quarter. Tradewinds LLC. lifted its holdings in CocaCola by 30.7% during the 1st quarter. Tradewinds LLC. now owns 16,679 shares of the company's stock worth $1,195,000 after purchasing an additional 3,914 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in CocaCola by 4.2% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 17,296 shares of the company's stock worth $1,239,000 after purchasing an additional 704 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred 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 owned 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 have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by company insiders.

CocaCola Price Performance

KO stock traded up $0.32 during midday trading on Thursday, reaching $69.80. 14,593,645 shares of the stock were exchanged, compared to its average volume of 16,304,017. The stock has a market capitalization of $300.46 billion, a PE ratio of 27.92, 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 debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The company has a fifty day moving average price of $70.96 and a 200 day moving average price of $68.72.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio (DPR) is currently 81.60%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KO. JPMorgan Chase & Co. lifted their price target on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group raised their price objective on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada raised their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has a consensus rating of "Buy" and an average price target of $76.27.

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.