Plimoth Trust Co. LLC Reduces Holdings in CocaCola Company (The) (NYSE:KO)

Plimoth Trust Co. LLC reduced its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,610 shares of the company's stock after selling 3,800 shares during the quarter. Plimoth Trust Co. LLC's holdings in CocaCola were worth $3,696,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in CocaCola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC purchased a new stake in shares of CocaCola in the 4th quarter valued at about $31,000. REAP Financial Group LLC boosted its position in shares of CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of CocaCola in the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. grew its stake in CocaCola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE:KO traded down $0.47 during mid-day trading on Thursday, reaching $69.15. The stock had a trading volume of 15,978,023 shares, compared to its average volume of 15,923,211. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The business has a 50 day simple moving average of $71.59 and a 200 day simple moving average of $67.96. The firm has a market capitalization of $297.63 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.65 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the business posted $0.72 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is currently 81.60%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock 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 report on Tuesday, April 15th. Finally, Piper Sandler upped their target price on shares of CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $76.00.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company's stock.

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.