Rockland Trust Co. decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 18.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,838 shares of the company's stock after selling 38,248 shares during the quarter. Rockland Trust Co.'s holdings in Coca-Cola were worth $12,164,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of KO. Peachtree Investment Partners LLC grew its holdings in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after purchasing an additional 157 shares during the period. Braun Bostich & Associates Inc. grew its holdings in Coca-Cola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after purchasing an additional 159 shares during the period. Fort Sheridan Advisors LLC grew its holdings in Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after purchasing an additional 161 shares during the period. Excalibur Management Corp grew its holdings in Coca-Cola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the period. Finally, Tradition Wealth Management LLC grew its holdings in Coca-Cola by 3.0% during the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.
Insider Buying and Selling
In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction on Thursday, May 8th. The shares were 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 directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.97% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. UBS Group boosted their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $76.00.
Get Our Latest Stock Report on Coca-Cola
Coca-Cola Price Performance
KO traded down $0.51 during trading on Monday, hitting $70.51. 15,038,003 shares of the stock traded hands, compared to its average volume of 15,881,290. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market cap of $303.50 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.94.
Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results 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 firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The firm 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 $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. Coca-Cola's dividend payout ratio is 81.60%.
About Coca-Cola
(
Free Report)
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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