Stonebridge Capital Management Inc. Sells 5,180 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Stonebridge Capital Management Inc. reduced its stake in CocaCola by 5.8%, selling 5,180 shares, which represents approximately $6 million in value as of its latest SEC filing.
• Major institutional investors like Vanguard Group and Capital International Investors have increased their holdings in CocaCola, with Vanguard now owning over 361 million shares valued at approximately $25.87 billion.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with an annualized dividend yield of 2.9%, and a dividend payout ratio currently at 72.34%.

Stonebridge Capital Management Inc. trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,846 shares of the company's stock after selling 5,180 shares during the quarter. CocaCola makes up approximately 2.6% of Stonebridge Capital Management Inc.'s investment portfolio, making the stock its 12th biggest holding. Stonebridge Capital Management Inc.'s holdings in CocaCola were worth $6,005,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. Vanguard Group Inc. grew its holdings in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after buying an additional 1,114,422 shares during the last quarter. Northern Trust Corp grew its holdings in shares of CocaCola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the last quarter. Capital International Investors grew its holdings in shares of CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Fayez Sarofim & Co grew its holdings in shares of CocaCola by 6.7% during the fourth quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock valued at $1,148,609,000 after buying an additional 1,155,538 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CocaCola by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,769,958 shares of the company's stock valued at $1,106,336,000 after buying an additional 2,284,429 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group decreased their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $77.21.

Insider Activity at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the company'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 transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

CocaCola stock opened at $70.32 on Friday. The firm has a 50 day simple moving average of $70.13 and a 200-day simple moving average of $69.83. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market cap of $302.63 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

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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