The Coca-Cola Company (NYSE:KO) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG decreased its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,365 shares of the company's stock after selling 3,737 shares during the period. Bank Pictet & Cie Europe AG's holdings in Coca-Cola were worth $1,100,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at about $31,000. REAP Financial Group LLC boosted its position in shares of Coca-Cola by 57.5% during 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 in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola during the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. boosted its position in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Performance

KO stock opened at $70.94 on Monday. 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 stock has a market cap of $305.36 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The firm has a 50 day simple moving average of $71.56 and a 200 day simple moving average of $67.89. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during 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 firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Analyst Ratings Changes

Several research firms have recently weighed in on KO. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. UBS Group raised their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Two investment 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 stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $76.00.

Insider Buying and Selling

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of Coca-Cola 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 sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by company insiders.

About Coca-Cola

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.