The Coca-Cola Company (NYSE:KO) Stock Position Lessened by Rockland Trust Co.

Rockland Trust Co. reduced its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,838 shares of the company's stock after selling 38,248 shares during the period. Rockland Trust Co.'s holdings in Coca-Cola were worth $12,164,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the 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 transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares in the company, 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. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last ninety days. Insiders own 0.97% of the company's stock.

Coca-Cola Stock Down 1.8%

Shares of KO stock traded down $1.30 during trading hours on Friday, reaching $70.94. The company had a trading volume of 17,424,785 shares, compared to its average volume of 15,853,808. The company has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock's fifty day simple moving average is $71.50 and its 200 day simple moving average is $67.80.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (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 the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola's dividend payout ratio is currently 81.60%.

Analyst Ratings Changes

A number of research firms have recently commented on KO. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Cfra Research raised Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and a consensus target price of $76.00.

Coca-Cola 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.