Praxis Investment Management Inc. Has $7.56 Million Position in CocaCola Company (The) (NYSE:KO)

Praxis Investment Management Inc. lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 23.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,530 shares of the company's stock after purchasing an additional 19,910 shares during the period. Praxis Investment Management Inc.'s holdings in CocaCola were worth $7,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Peachtree Investment Partners LLC raised its position in CocaCola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after acquiring an additional 157 shares during the period. Braun Bostich & Associates Inc. raised its position in CocaCola by 3.8% in the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after acquiring an additional 159 shares during the period. Fort Sheridan Advisors LLC raised its position in CocaCola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after acquiring an additional 161 shares during the period. Excalibur Management Corp raised its position in CocaCola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after acquiring an additional 161 shares during the period. Finally, Tradition Wealth Management LLC raised its position in CocaCola by 3.0% in the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Price Performance

Shares of NYSE:KO opened at $68.84 on Friday. The company has a 50 day moving average of $71.50 and a 200 day moving average of $68.03. The stock has a market cap of $296.32 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.63 and a beta of 0.46. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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 revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.96%. CocaCola's dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the executive vice president now directly owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% 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. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $76.00.

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.

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